Your house is yours.Īnother advantage of Unison is that you can repay Unison with cash out of the sales price if you sell your home within ten years. They care about your home, but they are not responsible for it.
Unison home full#
You have full ownership of your home – Unison is a lot like a silent partner.If you are an excellent financial planner, this is definitely an option.
Unison can be bought out – Unison allows a special termination where you can buy their share of equity on your home after three years. A lot can happen in 30 years- like paying Unison back and keeping your dream home. You have 30 years – After entering an agreement with Unison, you can use the funds for up to 30 years stress-free. One of a kind access to equity – Unison is the only one of its kind to help homeowners and buyers to access equity without sinking in debt. You can renovate your home, pay for college education, clear your student loans- literally anything you want. You have options – With Unison Homeowner, once you receive the cash, it is yours to spend. They invest in your home with the hope that they will make money after you sell. It is not a loan – As mentioned earlier, Unison is not like other lenders who require you to make monthly payments with interest. Unison investments are long term investments therefore, they pick which homes to invest in. If you qualify and your application is approved, then you can receive your funds in as little as three days. Unison takes the time to make sure that you fully understand their terms and conditions. They also charge 3.9 percent of their initial investment as a closing fee. This is how Unison makes their money, and they sure maximize on it. Unison can take from 17.5 to 70 percent of your profits or losses. This, however, depending on the market value of your home when you sell, can cost you more. Unison will share in both your losses and your gains. The current investment limit is $500,000. Of course, they have a limit to their investment because of the risk that they are taking on your home. Unison Homeowner will invest from 5 to 17.5 percent in home equity shares of your property according to the market value at that time. However, if in 30 years you haven’t sold your home, then you have to buy them out. You can buy out your contract anywhere between 3 to 30 years after entering an agreement with them. They are investing in your home so they can gain from it later when you sell it or when you buy them out. Just like Unison Homebuyer, Unison Homeowner does not require you to make any partial payments monthly. Instead of taking a HELOC where you risk a change in the interest rate on your loan, Unison Homeowner offers to buy part of the equity on your home without any of the latter. As a homeowner, you might want some quick cash for something like renovating your home. Unison Homeowner is for people who already own a home. How Does the Unison Homeowner Program Work?
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