#USA #Nevada #Unison Mortgage #Equity Sharing #Home Loan

Unison Mortgage Unveils New Home Loan in Nevada

Unison Mortgage Corporation, a subsidiary of Unison, has recently announced the launch of an innovative home loan program called the Equity Sharing Home Loan in Nevada. Designed to support homeowners navigating financial pressure, this loan offers them a unique opportunity to tap into their home equity without incurring the burdensome costs typically associated with traditional second mortgages.

The Equity Sharing Home Loan is specifically tailored to provide significant savings for homeowners. To illustrate, for a loan of $100,000, a homeowner's monthly payments can be as low as $306 at a competitive APR of 5.34%. In stark contrast, a conventional 10-year closed-end second mortgage could cost around $1,222 monthly at current market rates—resulting in a staggering annual savings of nearly $10,000 for those opting for Unison's new product. This is particularly relevant in today's economic climate, where inflation and rising living expenses are squeezing household budgets.

Addressing Financial Anxiety Among Homeowners

Many American families are increasingly grappling with financial anxiety, and the reliance on high credit card balances or early withdrawals from retirement accounts has become a troubling norm. The introduction of Unison’s Equity Sharing Home Loan addresses this crisis by enabling homeowners to convert a portion of their home equity into cash, effectively providing them with much-needed financial flexibility.

Ryan Downs, President of Unison, elaborated, stating, “Across Nevada, economic volatility is pushing households to seek financing that is both affordable today and sustainable tomorrow. Our Equity Sharing Home Loan converts idle equity into cash at roughly one-third the monthly cost of a standard second mortgage, letting families manage expenses or fund renovations without giving up their low first-mortgage rate.”

Benefits of the Equity Sharing Home Loan

This loan structure merges the strengths of traditional home loans and home equity sharing agreements. For homeowners, the benefits include:

• - Investing in Home Improvements: Homeowners can allocate funds for renovations and enhancements to increase their home’s value.
• - Debt Consolidation: The loan can serve as a means to consolidate high-interest debt, potentially leading to lower overall financial burdens.
• - Refinancing Options: Homeowners seeking to refinance existing second mortgages may also benefit from lower monthly payments.
• - Boosting Retirement Savings: By accessing home equity, individuals can enhance their retirement savings, providing greater financial security long-term.

Accessibility and Loan Structure

The Unison Equity Sharing Home Loan is available to eligible residents in Nevada. Homeowners interested in exploring this option can easily check their eligibility and obtain a no-obligation rate estimate via the Unison website.

Structured as a second mortgage with a 10-year interest-only term, borrowers can access their home equity at a below-market interest rate. In exchange, Unison will receive a portion of their home's appreciation value. The unique arrangement splits monthly payments into ongoing and deferred portions, allowing clients to benefit from lower upfront payments while cleverly managing the overall cost through appreciation.

About Unison

Based in San Francisco and Omaha, Unison is pioneering a progressive model in home ownership. Until now, tapping into housing equity typically forced homeowners to either sell their property or take on significant additional debt. Through innovative equity sharing agreements, Unison provides a less risky alternative that empowers homeowners while also offering investors lucrative opportunities associated with home price appreciation, free from the overhead of home ownership.

In total, Unison has helped over 12,000 households work towards financial stability, making strides in enhancing home affordability, minimizing debt, and shifting perspectives on housing equity.

For more information about the Unison Equity Sharing Home Loan and to explore how it can benefit you, visit Unison’s website.