Unison Mortgage Introduces Innovative Equity Sharing Home Loan in New Jersey
Unison Mortgage Corporation, a notable entity in the field of real estate finance, has launched its
Equity Sharing Home Loan in New Jersey. This new financial product offers homeowners an innovative way to utilize their home equity while enjoying lower monthly payments compared to typical home financing options.
Transforming Home Equity into Cash
This program is particularly appealing for homeowners who have built up equity in their properties yet find themselves in need of liquidity. Traditionally, the options available to access home equity involve refinancing existing mortgages or taking out additional loans, both of which can be cumbersome and expensive. Unison's Equity Sharing Home Loan distinctly addresses these issues by allowing homeowners to partially convert their equity into cash while keeping their existing low-interest first mortgages intact.
Ryan Downs, President of Unison, highlights that the U.S. home equity market is a gigantic
$35 trillion. Homeowners often reach out to Unison to leverage this equity for important financial goals, such as home renovations or debt consolidation. The introduction of the Equity Sharing Home Loan aims to meet these evolving needs by allowing for flexible cash access with minimized financial strain.
Features of the Equity Sharing Home Loan
One of the standout features of this new loan product includes
lower monthly payments. This is achieved through the model of shared home appreciation, which allows homeowners to enjoy substantial savings while still working towards their financial aspirations. Here’s how homeowners can benefit from this loan:
- - Home Renovations and Improvements: Funds can be conveniently diverted toward enhancing the living space.
- - Debt Consolidation: Homeowners can combine high-interest debts into one manageable payment, potentially adding savings on interest.
- - Refinancing Options: The loan can be utilized to refinance existing second mortgages, leading to lower monthly commitments.
- - Boosting Retirement Savings: Accessing equity can enable homeowners to contribute more to their retirement savings.
Beyond these benefits, Unison has established safeguards for homeowners who invest in renovations. With the
Capital Improvement Adjustment, the additional value brought about by renovations is retained by the homeowner, ensuring that their investment pays off in the long run.
Access and Availability
The
Equity Sharing Home Loan is currently available in New Jersey, where interested homeowners can access up to
$400,000 to meet their financial needs. Additionally, there are
no prepayment penalties, making it easier for homeowners to manage their finances without additional worry. Those interested in understanding their eligibility and securing a rate can do so through Unison’s online platform.
About Unison
Founded and operating from San Francisco, Unison aims to redefine homeownership through innovative financial solutions. By providing tools like equity sharing agreements and tailored loan products, Unison empowers homeowners to access their equity without incurring heavy long-term debts or the need to sell their homes. With over
$1.8 billion in assets under management, Unison has enhanced the lives of approximately
12,000 households.
To find out more, visit
www.unison.com and learn how Unison is transforming the concept of home equity into a reality for many homeowners across the nation.
Unison Mortgage Corporation continues to champion innovative financial strategies that prioritize homeowner wellness through affordability and responsible debt management.