FAQS
Your Offer
- Single-family residences
- Townhomes
- Properties with 1 to 4 units
- Condos
Title to the subject property can be held by individuals, trusts, and by LLCs. We don’t invest in:
- Manufactured homes
- Properties with five or more units
- Mobile homes
- Tenants-in-common properties (unless the members of the TiC are immediate family members)
Yes, we invest in second home and investment properties. Since they are considered riskier than investments in primary residences, they are subject to a different underwriting criterion.
Yes, you need to provide additional documents like the Trust Certification or the Trust Declaration.
We don’t accept prefabricated or mobile homes.
You may refinance your home whenever you want using our services. Cash-out refinancing is one of the most popular exit methods. However, without taking more cash, you don't have to pay back if you opt to refinance your house.
You will be responsible for property taxes, insurance, and maintenance and can use your investment funds to cover these.
- You can buy out the agreement as per the appraised fair-market value.
- Finance out the agreement with a HELOC, reverse mortgage, or home equity loan per the appraised fair-market value.
Yes, there are no monthly payments which is an excellent way for homeowners to finance the home equity investment. Instead, homeowners payback for refinancing or selling in a single lump amount whenever they choose before concluding the period for investment.
At first, a homeowner generally has no extra baggage costs. The processing charge of 3-5% and an independent assessment fee will be deducted from a homeowner's investment. Interest or monthly payments are never charged.
You may pay some service charges during the length of your agreement with us. Only when these services are requested or necessary will you be charged. There may be extra charges from your State or Country for some services. Costs are subject to change. In every part of our approach, we always want to be transparent.
Are there any restrictions on how I spend the funds?
You can spend it wherever you want. You may have to pay off some of your creditors as per your debt-to-income ratio and financial obligations.
With us, you get all benefits of the reverse mortgage without the drawbacks, and there are no monthly payments.
- There is no minimum age to use our product. You must be 62 years old to qualify for a reverse mortgage.
- We don’t penalize you for taking a lump sum. While with a reverse mortgage, when you take a lump sum, it costs more than making monthly payments or a line of credit.
- For a reverse mortgage, you need to pay it off with funds from the reverse if you have a mortgage balance. With us, you no need to pay off your mortgage to qualify.
- Our Home Equity Investment (HEI) is unique from traditional loans. You share some of your home value’s growth with us instead of being subject to an interest rate. A reverse mortgage charges a default rate, irrespective of how your property price changes.
- If your home value drops down the original agreed value, your buyback cost will be less.
- The agreement is assumable. Unlike a reverse mortgage, this means that your heirs can take your agreement.
How is property's value determined?
We utilize your self-identified value for your house for your pre-offer. As we progress, we retain a qualified and self-employed evaluator or, as necessary, use a product for the assessment of the worth of your house. An adjustment is levied to the Appraised Value to set the initial value for the contract, known as Original Agreed Value.
When you pay back with a refinancing or other cash source, we will evaluate the property's value using an AVM assessment or broker pricing opinion (BPO). We can utilize this valuation when your refinancing lender orders an evaluation.
You can repay the loan whenever it is possible for you.
Your Home Equity Investment comes with a 30-year term. However, you can pay out whenever possible. You can repay us using
- A home sale
- Another source of funds
- A HELOC or cash-out refinance
Home Renovation
We encourage home improvements that add value to your home. If you are thinking of using your investment for home renovations, you may get promotional pricing.
No approvals are needed. However, you require to perform basic property maintenance as per our agreement.
Repayment Info
You will be responsible for property taxes, insurance, and maintenance and can use your investment funds to cover these.
- You can buy out the agreement as per the appraised fair-market value.
- Finance out the agreement with a HELOC, reverse mortgage, or home equity loan per the appraised fair-market value.
Yes, there are no monthly payments which is an excellent way for homeowners to finance the home equity investment. Instead, homeowners payback for refinancing or selling in a single lump amount whenever they choose before concluding the period for investment.
At first, a homeowner generally has no extra baggage costs. The processing charge of 3-5% and an independent assessment fee will be deducted from a homeowner's investment. Interest or monthly payments are never charged.
You may pay some service charges during the length of your agreement with us. Only when these services are requested or necessary will you be charged. There may be extra charges from your State or Country for some services. Costs are subject to change. In every part of our approach, we always want to be transparent.
Are there any restrictions on how I spend the funds?
You can spend it wherever you want. You may have to pay off some of your creditors as per your debt-to-income ratio and financial obligations.