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Unison HomeBuyer

in Shared Equity Agreements from Unison

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Unison HomeBuyer

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in Shared Equity Agreements from Unison

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Highlights
Highlights
Investment Range % 5% - 20%
Investment Range $ Up to $500,000
Share of Home Appreciation 17.5% - 70%
Shared Equity Use Case Mortgage Down Payment

Unison HomeBuyer Review

Where is the Unison HomeBuyer product available?

Unison is a financial services company based in San Francisco, CA. It was founded in 2004 and offers shared equity appreciation contracts to qualified applicants in 30 states (and Washington, DC).

How does the Unison HomeBuyer product work?

A shared equity agreement (also called a shared appreciation agreement or shared equity contract) is essentially a way to sell a small fraction of the equity in your home to an investment company. The two primary use cases are to help finance a mortgage down payment and secondly, as a way to extract equity/cash out of your home.

The Unison HomeBuyer product supports home purchase down payments. Unison 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 up to 50% of your down payment. Through the Unison HomeBuyer product, Unison helps to finance your mortgage down payment in exchange for a share of the home’s future appreciation.

The transaction is secured like a loan but you won't be paying Unison a monthly loan payment with interest. Instead, if your home goes up in value, Unison share in the gain; if it goes down, they share in the loss.

How much will Unison HomeBuyer invest into a shared equity agreement?

The Unison HomeBuyer program offers equity investments that range from 5% up to 20% of a property's market value. As you might expect, Unison has a cap on the amount of funding they will invest in a single home. For the Unison HomeBuyer program, the most Unison can invest in a single home is $500,000.

Unison HomeBuyer Terms & Requirements
Investment Term Amount
Equity Investment Range 5% - 20%
Maximum Equity Investment $500,000
Maximum Down Payment Match Percentage 50%
Maximum Debt-to-Income Ratio 43%

What are the costs associated with Unison HomeBuyer?

Unlike loans, the costs associated with shared equity investments are not based on an interest rate. There are no monthly payments or accrued interest. Instead, Unison shares in the change in value of your property. If your property value goes up, Unison gets a share. If the value drops, Unison shares in the losses. They only get their money back when you sell your home – and they typically only make a profit if you also make a profit.

Under the Unison HomeBuyer program, at the time your home is sold Unison will recieve an amount that ranges from 17.5%, up to 70% of any appreciation or depreciation in the home’s price.

The Unison HomeBuyer program includes a closing fee equal to 2.5% of their investment.

Unison HomeBuyer Costs
Fee Amount
Closing Costs 2.5%
Percentage Share of Home Appreciation 17.5% - 70%

How long does it take to close a deal with Unison HomeBuyer?

Unison HomeBuyer will typically fund a deal within 21 days of approval.

What types of property does Unison HomeBuyer consider?

Shared equity investors often have restrictions on the type of properties they will invest in. Unison HomeBuyer will consider shared equity agreements secured by the following property types:

  • Primary home
  • Secondary homes and vacation properties
Pros & Cons of Unison HomeBuyer
Pros Cons
  • Avoid paying a private mortgage insurance (PMI)
  • Lower your monthly mortgage payments
  • Reduce the size of your loan and hold onto some of your cash savings
  • Unison is available in more states than most shared equity investors
  • If the value of your home increases considerably, it could cost you more than paying a PMI
  • The amounts are lower than the loan amounts available with a HELOC
  • Luxury properties may not be eligible
  • Unison won't share any losses with you if you sell your home in the first 3 years
  • UNISON HOMEBUYER Disclosure: Real Estate Equity Exchange, Inc., dba Unison Home Ownership Investors, offers Unison HomeOwner Agreements and Unison HomeBuyer Agreements through Unison Agreement Corporation (AZ DRE #CO670710000, CA BRE License #2012710, DC REC License #C098374562, GA REC License #76456, IL DFPR License #478026863, MA BR License #422177, MD REC License #6027, NJ REC License #1649879, NY DL License #10311206864, PA REC License #RBR002699, VA REB License #0226-025731, WA DL License #19288) and Unison Agreement AO Corporation (CT REB License #791352, OR REA License #201221258). Unison is an independent investor and is not affiliated with any bank or lender. No agency relationship shall be formed pursuant to or in connection with a Unison HomeOwner or Unison HomeBuyer transaction.
    SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

    Contact

    • Headquarters
    •   650 California Street
      San Francisco, CA 94108
    •   Visit Site

    Message from Unison

    Unison is the market leader in home ownership investment. Founded in 2004, San Francisco-based Unison makes long-term investments in individual residential properties through two innovative programs: Unison HomeBuyer, which provides a portion of the down payment needed to purchase a home, and Unison HomeOwner, which allows current homeowners to tap into their home equity without interest or monthly payments.

    About Unison HomeBuyer

    Icon for Shared Equity Agreements
    View all shared equity agreements offered by Unison

    Availability

    Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
      Available in 30 states and Washington, D.C.
    • Arizona
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Illinois
    • Indiana
    • Kansas
    • Kentucky
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Missouri
    • Nevada
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • Ohio
    • Oregon
    • Pennsylvania
    • South Carolina
    • Tennessee
    • Utah
    • Virginia
    • Washington
    • Wisconsin

    Feature Breakdown

    Closing Costs 2.5%
    Investment Range % 5% - 20%
    Down Payment Match Percentage Up to 50%
    Investment Range $ Up to $500K
    Minimum Age 18
    Credit Score Range 680 - 850
    Immigration Status Considered
    • U.S. Citizen
    • U.S. Permanent Resident
    Intended Use
    • Primary Home
    • Secondary Home
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Supported Income Types
    • 1099 Misc. Income
    • Direct Deposit (W2, SSA, SSDI)
    • Payroll Check or Prepaid Card
    Shared Equity Use Case
    • Mortgage Down Payment
    Verification Documents Required
    • Proof of Income
    • Proof of Residence

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    Other Shared Equity Agreements

    Unison Shared Equity Agreements

    Product

    Reviews

    Investment Range %

    Investment Range $

    Share of Home Appreciation

    Shared Equity Use Case

    Unison HomeOwner

    Unison HomeOwner

     
    1
     
    1 total votes
    Investment Range % 5% - 17.5%     5% 20%
    Maximum Investment Range $ $500K Maximum Investment Range $
    Share of Home Appreciation 17.5% - 70%     3% 70%
    Shared Equity Use Case
    • Equity Cash-Out
    • Equity Cash-Out