Lotly Review: Is Lotly Legit For Home-Buying?

In a country where home prices continue to heat the ceiling, Canadians continue to look for ways to reduce costs.

When all hope seems lost, Lotly emerges as a promising fintech company with a fresh perspective on home-buying. 

But is Lotly an affordable and legitimate choice for home-buying in Canada? 

That’s what my Lotly review seeks to find out.

What is Lotly?

Lotly is a newly launched Canadian fintech that’s on a mission to make homeownership more accessible and affordable. 

They’re driven by the belief that everyone should have a shot at their dream home and the wealth-building potential that comes with it. 

The Lotly team comprises innovators with expertise spanning technology, finance, real estate, and mortgages, and they’ve garnered backing from prominent Canadian venture capital firms such as:

    • N49P

    • Panache Ventures 

    • Forum Ventures 

Based in the vibrant city of Toronto, Ontario, Lotly facilitates a partnership between homebuyers and investors, with the former contributing 5% of the down payment and the latter pitching in the rest. 

In return for their investment, investors receive a share of the home’s future increase in value, if any. Importantly, homebuyers retain ownership and responsibility for the property.

How Lotly Works

Lotly’s concept is straightforward. They assist in financing up to 15% of your down payment, while you provide a minimum of 5% along with additional costs for taxes and fees. 

You will own the home and decide to live in it, paying the mortgage and monthly expenses.

Lotly only profits if your home increases in value. They get their initial contribution back and a portion of the home’s appreciation when you buy them out, either through a sale or refinancing.


To embark on a home-buying estate journey with Lotly, all you need is to live in GTA and have at least 5% of the home’s purchase price for the down payment and an extra ~ 3% for various costs like taxes and legal fees.

Benefits of Lotly

    • Start Building Wealth: Lotly offers a chance to begin building wealth now, without waiting to accumulate a large down payment. By transitioning from renting to homeownership, you get to build equity in your home, which is an investment in your financial future.

    • Increase Your Buying Power: Co-buying with Lotly amplifies your purchasing capacity, enabling you to acquire the home you truly desire.

    • Control Your Cash: Lotly lets you decide how much you want to invest. This flexibility empowers you to allocate your savings as you see fit.

    • Reduce Monthly Payments: A 20% down payment lowers your monthly costs, sparing you from mortgage insurance and extending your amortization period.

    • Dedicated Experts: Lotly provides dedicated account managers who guide you through the entire home-buying process, from securing a mortgage to closing the deal.

    • Own Majority Equity:  Lotly ensures you always own at least 51% of the home’s appreciation. They’re committed to you leaving the partnership with genuine wealth, acknowledging that it’s your home, after all.

    • Low Risk: In case the home’s value dips, investors share in the downside, meaning they could lose part or all of their initial contribution. With Lotly, homeowners and investors share both the gains and the losses.

Drawbacks of Lotly

    • Lack of Historical Data: As a newly launched company, Lotly doesn’t have an extensive track record yet, which is enough to make you cautious. 

    • Limited Availability: Lotly is currently available to homebuyers in GTA only. This limited availability could leave many potential homebuyers unable to benefit from their unique model.

    • Equity Sharing: While Lotly’s model allows homebuyers to enter the market with a lower down payment, it also means sharing a portion of the future appreciation with investors. This could potentially reduce the long-term gains that you would typically enjoy with a traditional mortgage.

    • No Renting: The program is primarily geared toward first-time homebuyers who intend to purchase a principal residence. This is a big limitation if you want to become a landlord and generate additional income with your Lotly property.

Is Lotly Legit For Home-Buying?

The legitimacy of Lotly lies in its transparent and well-structured model.

For me, the key aspects that support Lotly’s legitimacy for home-buying are:

    • Financial Backing: Lotly’s backed by reputable Canadian venture capital firms, including N49P, Panache Ventures and Forum Ventures, adding credibility to their operations.

    • Transparency: Lotly’s approach is clear and transparent, and they only profit when the home’s value increases.

Verdict on Lotly Review

Lotly brings an innovative approach to for home-buying, aiming to make homeownership more attainable for Canadians.

Their approach offers advantages such as wealth building, increased buying power, and flexibility, but the relatively untested waters might give pause to those seeking a more established track record. 

As with any investment, thorough research and consideration of your specific circumstances are key before taking the plunge into real estate with Lotly.

Overall, it’s important to weigh the drawbacks against the benefits and consider how they align with your financial goals and individual circumstances before making a decision.

If you’re looking for Lotly alternative, consider Ourboro. Read this comprehensive Ourboro review to learn about it.

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Many Canadians feel pushed into the home-buying journey – Survey 

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6 months ago

I’m just learning about them. Will check them out. thanks for sharing