Frequently asked questions

What can Ascension do for me?

If traditional banks are holding you back, we help you bridge the gap between renting and owning. Our program gives you time to overcome credit, down payment, or income hurdles—all while building real equity. Every payment moves you closer to ownership. Plus, we lock in your purchase price today, so any future appreciation belongs entirely to you.

Why not buy a house the traditional way?

For many, the traditional route isn’t an option right now:

• Credit issues: Even minor past mistakes can block bank approval.

• Self-employment: Banks may not see enough income on paper, even if your business thrives.

• Down payment: If you’re short, our program acts as a built-in savings plan while you secure your home.

When the traditional path isn’t feasible, our program provides a real, achievable pathway to ownership—without years of waiting.

What happens if the market goes up or down after we sign?

Your purchase price is locked in the day we make the deal.
If the market goes up, all appreciation from that point forward is yours, which can also make mortgage approval easier since lenders see more security in the home.

If the market goes down, your accrued equity still goes toward the purchase. While it may take more effort to qualify if values drop, your risk is limited. Unlike a traditional mortgage, you’re never liable to banks or CMHC if the home’s value falls. The most you can lose is what you put in—no negative equity, no underwater mortgage risk.

What security do I get as a Buyer?

You’ll receive a legally binding agreement that gives you the right to place a caveat on the property’s title. Your lawyer can register this for you. The caveat protects your interest and ensures the home cannot be sold to anyone else for the duration of our agreement.

Can I have my lawyer review the agreement before I sign it?

Absolutely. We encourage you to have your lawyer review the agreement before signing. This is an important commitment, and we want you to feel fully confident. Our contract is transparent, compliant, and designed to protect both parties.

Who is responsible for the maintenance of the property?

As a Tenant-Buyer, you step into the responsibilities of homeownership—but in a way that benefits you. This includes tasks like snow removal, yard care, and general upkeep. Think of it as taking care of your future home: the better you maintain it, the more value and pride you’ll enjoy when you officially become the owner.

Can I do renovations on the property?

Yes! Small updates, like painting a room, are fine. For renovations over $5,000, you’ll need our approval. Most improvements—like new flooring or finishing a basement—are usually approved, as long as they’re done by qualified tradespeople. Major changes that reduce the home’s value, like removing bedrooms, require discussion and permission.

What if I can’t get financing by the end of the term?

You’re not alone in this—we connect you with a mortgage broker to guide you every step of the way toward financing. If unexpected challenges arise, there are options: a co-signer, a possible extension, or selling the home to access your accrued equity. Our agreements are designed to give you enough time to succeed, and with focus and support, most Tenant-Buyers do just that.

"Ascension made homeownership possible when the banks said no. We locked in our purchase price two years ago, and even with the market rising, our price stayed the same. It’s the smartest financial move we’ve ever made." — Jordan S.