Unison Mortgage Corporation Launches Innovative Equity Sharing Home Loan in Florida to Convert Home Equity Into Cash

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Oct 31, 2024, 12:01 ET

New Second Mortgage Loan Product Offers Low Monthly Payments to Fund Goals, Such As Home Renovations

SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ -- Unison Mortgage Corporation, a Unison company, today announced the launch of its Equity Sharing Home Loan in Florida, which enables homeowners to receive cash today at below-market rates.

Unison, the pioneer of equity sharing agreements, also recently announced that global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from Unison.

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 convert part of their home equity into cash with low monthly payments.

Homeowners lucky enough to have a low-interest first mortgage can maintain their favorable rates, and are usually reluctant to move, opting instead to renovate or expand. Unison's Equity Sharing Home Loan is an exciting new option that homeowners can utilize to get cash with a minimal impact on their monthly cash flow.

"The U.S. home equity market is $32 trillion; homeowners come to Unison in the hope of leveraging their equity to obtain cash to renovate their homes, or consolidate high-interest debt. We designed the Unison Equity Sharing Home Loan to offer a solution that suits their needs," 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.
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 what is due for the shared appreciation interest.
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.
Eligibility Criteria: 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% are eligible.

Unison vs. Other Loan Offers
Unison designed an innovative new financing option that delivers lower rates and monthly payments, tailored to meet the demands of homeowners. Unison has taken a creative approach by combining low interest rates with a share of the property's future appreciation. Plus, if homeowners use their funds to renovate, the Capital Improvement Adjustment enables them to retain the value added by those improvements.

Availability
The Unison Equity Sharing Home Loan is available in Florida today. Find out if you are eligible and obtain a free rate estimate with no obligation by visiting
https://www.unison.com/florida

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, homeowners access their equity in a new and innovative way with low or no monthly payments. Unison is an investment management company with over $1.8 billion in assets under management, and they furnish investors with the opportunity to access the returns associated with home price appreciation, minus ownership. Their equity sharing agreements have empowered 12,000 homeowners to pursue financial wellness, and they'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 September 2024

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Media Contact:
Gary Bird
FortyThree, Inc.
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SOURCE Unison