EquiFi Home Equity Investments

EquiFi Home Equity Investments Review

EquiFi Home Equity Investments is offered by equifi corporation, a financial services company founded in 2016 and based in San Jose, CA. equifi home equity investments are available in 50 states (and Washington, DC).

Key Takeaways

• Maximum investment of $450,000. Your actual offer will depend on the value of the home and how much equity you have in the property.
• Long contract terms. EquiFi Home Equity Investments offers a contract term of 30 years, which provides homeowners with plenty of flexibility. Most home equity investors have a maximum term of 10 years.
• Available in most states. EquiFi Home Equity Investments is available in 50 states.

EquiFi Home Equity Investments Pros & Cons

EquiFi Home Equity Investments FAQ

How does the EquiFi Home Equity Investments product work?

A shared equity agreement (also called home equity contract) is essentially a way to sell a portion of the equity in your home to an investment company.

The EquiFi Home Equity Investments product supports home purchase down payments. EquiFi Corporation, PBC aims to help more people afford to buy a home. Rather than giving you a loan, they invest alongside you in your home by matching a percentage of your down payment. Through the EquiFi Home Equity Investments product, EquiFi Corporation, PBC helps to finance your mortgage down payment in exchange for a share of the home’s future appreciation.

EquiFi Home Equity Investments will have a lien on the property (just like a mortgage does), but since it's not a loan you won't be paying EquiFi Home Equity Investments interest or a monthly payment. Instead EquiFi Home Equity Investments gets paid a share of your home's value when the contract ends, which typically occurs when you decide to sell your home or buy EquiFi Home Equity Investments out. For example, EquiFi Home Equity Investments might provide you with a cash investment today equal to 10% of your home's current value in exchange for 16% of your home's future value when you sell.

How much will EquiFi Corporation, PBC invest into a shared equity agreement?

The EquiFi Home Equity Investments program offers equity investments of up to 45% of a property's market value. As you might expect, EquiFi Corporation, PBC has a cap on the amount of funding they will invest in a single home. The most EquiFi Corporation, PBC can invest in a single home is $450,000.

What are the costs associated with EquiFi Home Equity Investments?

Unlike loans, the cost associated with an EquiFi Corporation, PBC investment is not based on an interest rate. There are no monthly payments or accrued interest. Instead, EquiFi Corporation, PBC shares in the future value of your property and typically only receives a return on its investment when you sell your home or decide to buy EquiFi Corporation, PBC out. The percentage of your home’s value that EquiFi Corporation, PBC shares when the contract ends is larger than the percentage of EquiFi Corporation, PBC's investment in your home. Therefore, EquiFi Corporation, PBC will make a profit if your home’s value does not change. If your home’s value increases, EquiFi Corporation, PBC will make a larger profit. If the value drops, EquiFi Corporation, PBC will make a smaller profit, or might incur a loss.

How long does it take to close a deal with EquiFi Corporation, PBC?

EquiFi Home Equity Investments does not disclose how long it typically takes to approve and fund a shared equity agreement.

Is EquiFi Corporation, PBC a legit company?

EquiFi Home Equity Investments was founded in 2016. It is an established company that has been in business for 7 years.

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