Unison was started in 2006 and is available in Washington D.C. and twenty-eight states. The company provides homeowners loans in exchange for portions of their homes. Unison is among the top companies offering home equity sharing agreements in the market.
Unison can be viewed as an investment company. It purchases up to 17.5 % of clients and pays them a similar amount in cash. The company then retains some percentage of the sold property's value. This means that whenever your house loses value, so does Unison.
Clients can either sell their property or buy them out to settle the agreement. Clients who choose to sell their properties must give a portion of the money to Unison before the expiry of the thirty-year term. Consequently, the company allows clients to refinance. Homeowners often prefer equity sharing to cover home repairs and other expenses or to pay off high-interest debts.
The amount of money clients receive depends on their mortgage balance, the house's value, and financial factors like their income and credit scores. Unison thoroughly evaluates homeowners before investing.