FAQs – EP Homes

Let’s Start with the Basics

It is a way to bridge into homeownership through a Lease and Option to Purchase contract.

The program provides you with the opportunity to live in a brand new, turn-key home and own it at the end of your lease term. During the lease term,you will make regular payments that contribute to both the lease amount and the down payment savings plan. At the end of the lease term, you will haveaccumulated the 5% down payment required to obtain a mortgage and buy the home.

The majority of our clients simply lack all or some of the 5% down payment required to buy a home.

Some of our clients use the Bridge to Own™ Program to establish the kind of financial profile that would later help them qualify for a mortgage; such as new Canadians or anyone who has not yet established a Canadian credit bureau profile.

It is your roadmap to becoming mortgageable at the end of the lease term.

The EP Homes Team will help you build a plan to keep your credit score and debt ratios at a mortgageable level. You will also gain access to useful homeownership tips and advice.

1. Get Pre-Qualified

  • It only takes 5 mins and will not impact your credit score.
  • This will determine if the program is right for you.

2. Get Approved, Go Shopping

  • Submit the required information and complete your application.
  • Find your dream home with one of EP Homes’ builder partners.

3. Set Up Your Bridge to Own™ Plan and EP Homes Purchases the Home

  • Once you choose your home, we buy it. Yes, really.
  • We will set your move in date and finalize your Bridge to Own™Plan.
  • EP Homes will pay for the home and cover the GST and closing costs.

4. New Home Walkthrough and Move in

  • Move into your home, get comfortable and plant your roots.

5. Save and Stick to Your Plan

  • Make your regular payments on time and accumulate a down payment.
  • Review your Bridge to Own™ Plan on a regular basis with the EP Homes Team.

6. Buy the Home

  • The EP Homes Team will help you prepare your mortgage application with the lender of your choice.
  • Once your mortgage is approved, we will help you transfer the property title into your name.

Qualification Criteria

No. You can lease for a 3-year term with no initial down payment, or a 2-year term with a 2% initial down payment.

Yes, you can put down additional savings at the beginning of the lease term or at any time during the term.

Yes, we require confirmation that you receive ongoing, reliable income from either a job or self-employment. Acceptable verification includes: pay stubs from the last 3 months or an employment verification letter.

At EP Homes, we recognize that everyone has unique financial circumstances.

To qualify for the Bridge to Own™ Program, you must confirm your ability to afford owning a home and have at minimum, an average credit score.

If you have not yet established any Canadian credit bureau history or are towards the end of a credit repair journey, we are happy to review your financial profile to see if a Bridge to Own™ Plan is right for you.


The Homes

EP Homes offers newly built homes through certified home builder partners of the Bridge to Own™ Program. Depending on the builder and location, home types vary between townhomes, duplexes, and single family.

Our current homes are located in Edmonton, St. Albert, Fort Saskatchewan, Leduc, Spruce Grove and Sherwood Park.

We are growing and expanding our operations across Canada. If you are looking for a home in a particular area, please reach out to us.

Our homes are newly built detached houses and townhouses in turnkey condition – depending on the builder and style of the home, this often includes landscaping, fence, deck, window coverings and major appliances.

The program is only available for new homes built by a certified builder partner of EP Homes who offers turnkey, builder warrantied homes.

During the lease term, there are limitations on renovations. You may not renovate the home without first contacting the EP Homes Team at 1-888-825-9808 to discuss your options.

You are responsible for your home’s regular maintenance and repairs.

Yes, all homes come with a standard builder and new home warranty plan. During your lease term, EP Homes will manage the warranty.

Payments, Charges and Terms

Payments are based on the value of the home and the lease term.

For the home you choose, EP Homes attains an independent fair market lease appraisal. Your monthly payment would include the fair market lease amount, plus a portion of the 5% down payment savings you need to buy the home.

Payments can be monthly, semi-monthly or bi-weekly. We encourage our clients to align their payments with the days they receive income.

A 3-year term with a 0% down payment, and a 2-year term with a 2% down payment.

Yes, we require a security deposit and a pet deposit (if applicable) prior to you moving in.

The non-refundable pet deposit starts at $250 per pet, and is subject to change without notice.

EP Homes will pay for the property taxes until the end of your lease term.

You will be responsible to pay any applicable condo fees or homeowner association fees.

You will be responsible for setting up and paying all utilities on time. Remember that utility companies can report negatively to your credit bureau.

You will be required to attain and regularly pay for tenant’s insurance. EP Homes will maintain landlord’s insurance.


EP Homes does not offer rentals. The Bridge to Own™ Program is designed for those who are ready to be a homeowner, but lack the required down payment or credit history. We therefore view every application with one goal in mind: homeownership at the end of the lease term.

At the end of the lease term, you will be required to obtain a mortgage. The EP Homes Team will help you through the entire process to prepare you for the transition. We will provide coaching and guidance, and connect you directly with a mortgage specialist if you do not already have one.

If you do not qualify for a traditional mortgage at the end of the lease term, the EP Homes Team will review your progress under the Bridge to Own™ Plan, discuss possible solutions with you, and determine the best course of action.

Yes, you can purchase your home on any anniversary date during the lease term.

We strongly recommend that you prioritize your home payments to avoid missing payments. Your payment history will be reported to the lender you choose to obtain a mortgage with. Please call us at 1-888-825-9808 at least 3 business days before the scheduled payment date to review your options to stay on track.