Frequently asked questions

We're here to help. Choose a category below or ask help@utopia.cx

GENERAL

How does Utopia work?

How does Utopia compare to just renting?

How much does Utopia cost?

How long is the Utopia program?

How long does it take between the time I apply and the time I move into a home?

What if I decide not to buy the home and want to exit the program?

What if the home appraises for less than when Utopia bought it?

APPLY

How does Utopia work?

What documentation is required to be approved?

What if I had a bankruptcy or a foreclosure?

How long is my approval letter valid?

Will the credit pull on my application impact my credit score?

Why was my application denied?

How does my Utopia journey look, from start to finish?

ELIGIBILITY

What homes are eligible for the Utopia program?

Do I need a real estate agent?

RENT

How much does the program cost?

How does Utopia determine the market rent portion of the monthly payment?

Will I have to pay a security deposit before I move in?

Do I pay taxes, insurance, utilities, maintenance, etc.?

Can I have pets in my home?

What is included in the monthly payment?

How do I know how much savings I have in the home?

When is rent due?

Can I schedule my rent payment?

BUY

Can I buy the house before my lease term ends?

What price will I pay for the house?

How do you decide my home budget?

What is the re-verification process once an offer is initiated?

Am I guaranteed to win the home we make a bid on?

How does Utopia decide what price to offer?