New Home Loan Category Supported by
New Carlyle Investment Offers Interest-Only, Below-Market
Monthly Payments to Fund Personal Goals Without Selling Assets or
Increasing Debts
SAN
FRANCISCO, Sept. 17, 2024 /PRNewswire/ -- Unison, the
pioneer of equity sharing agreements, today announced the launch of
the Unison Equity Sharing Home Loan, which enables homeowners to
receive cash today at below-market rates.
Unison launches new Equity Sharing Home
Loan that enables homeowners to receive cash today at below-market
rates.
Today, the company also announced that global investment
firm Carlyle (NASDAQ: CG) has entered into an agreement to purchase
up to $300 million of equity sharing
home loans from Unison as part of the Unison Equity Sharing Home
Loan launch.
U.S. homeowners have almost $32
trillion in home equity, but most aren't refinancing
their current low-interest first mortgages, which results in their
biggest asset being inaccessible as homes continue to
appreciate.
The innovative Unison Equity Sharing Home Loan combines the
benefits of home loans and home equity sharing agreements into a
unique mortgage solution that allows homeowners to manage personal
financial goals by converting home equity into cash with low
monthly payments. This new financial product also introduces
potential home price appreciation to investors in the mortgage
asset category.
The Unison Equity Sharing Home Loan offers homeowners a fixed
below-market interest rate for accessing a portion of their home
equity, while also allowing them to make use of the appreciation
potential of their home. Homeowners lucky enough to have a
low-interest first mortgage can maintain their favorable rates, and
access capital immediately, with minimal impact to monthly cash
flow.
"Whether homeowners want to renovate their homes,
consolidate high-interest debt, or secure their financial future,
Unison's Equity Sharing Home Loan offers a versatile and
customizable solution to suit their individual needs and
aspirations," said Ryan Downs,
President of Unison. "With lower monthly payments, made possible by
shared home appreciation, homeowners can confidently pursue their
financial goals with peace of mind."
About the Unison Equity Sharing Home Loan
- Lower Monthly Payments: An interest-only loan, part of
the cost is offset by sharing a portion of the home's future
appreciation, as well as partially-deferred interest.
- Eligibility Criteria: We welcome homeowners with a
FICO score of 680 and above, a maximum combined loan to value ratio
of 70%, and a debt-to-income ratio not exceeding 40%.
- Early Repayment, No Penalty: Borrowers can repay
the loan early without penalty, which includes paying back the
original loan amount, any deferred interest, and the agreed-upon
share of appreciation.
- Better Credit, Better Terms: Homeowners with higher FICO
scores may receive more favorable loan terms.
- Remodeling Benefit: Homeowners who make
improvements--beyond that of regular maintenance--are eligible,
after 3 years, to request a credit for the added value, which
reduces the shared appreciation component.
Unison vs. Other Loan Offers
Through the Unison Equity
Sharing Home Loan, Unison designed an innovative and new financing
option offering homeowners lower rates and monthly payments than
provided by traditional equity financing products. Its unique
structure combines a below-market rate home loan and a share of the
property value future appreciation.
Availability
The Unison Equity Sharing Home Loan is
available today. Find out if you are eligible and obtain a free
estimate with no obligation by visiting
www.unison.com/homeloan.
About Unison:
Based in San Francisco and
Omaha, Unison is pioneering a
smarter, better way to own your home. Until now, the only way to
harvest hard-earned equity was by selling your home, or taking on
enormous additional debt. Through Unison equity sharing agreements
and equity sharing home loans, we help homeowners access their
equity in a new and innovative way with low or no monthly payments.
We are an investment management company with over $1.8 billion in assets under management, and we
furnish investors with the opportunity to access the returns
associated with home price appreciation, minus the overhead of home
ownership. Our equity sharing agreements have empowered 12,000
households to pursue financial wellness, and we're proud to
continue to enhance home affordability, reduce debt, and deliver a
less risky way for homeowners, investors, and society to think
about that important asset - the home. For additional information,
visit www.unison.com and www.unisonim.com.
* Data gathered on July 1,
2024
All registered trademarks and product
identifiers belong to their respective corporate entities. Any
other trademarks or product names referenced here are also owned
exclusively by their relevant companies.
Media Contact:
Gary
Bird
FortyThree, Inc.
831.888.9011
unison@43pr.com
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SOURCE Unison