Building Up Your Deposit

1 min. readlast update: 04.27.2024

At PublicSquare, we help you build up a deposit to buy your home by paying an upfront Kickstarter and then weekly contributions. 

If you opt for renting to own, your Kickstarter will be 3% of the home price, while your weekly contributions, paid on top of your weekly rent are calculated as 50% of the rental price. 

The total of these contributions accrue into your deposit, which you can use in full when you're ready to buy the home. 

We aim to help you accumulate a deposit amount of at least 10-15% of the home's final purchase price before the end of your 7-year lease. 

You can also bolster this amount using your savings or cash gifts you receive from friends and family. 

For a complete picture of the deposit you can accrue with PublicSquare, we recommend checking out our interactive calculator.

Although not a requirement of all lenders, many will ask to see 5% of genuine cash savings as part of your eventual home loan application. For those who accept rental statements as proof of genuine savings, PublicSquare will provide the necessary documents.

Was this article helpful?