Let’s say that you sell your house for exactly the same amount as it was worth when Unison partnered with you. It’s important to point out, though, that Unison will not share in the loss of your home if you sell within 3 years of your initial agreement (in some agreements, it’s actually 5 years).įinally, one last example. So you’d actually lose less than you would have if you hadn’t partnered with Unison.
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Instead of paying them back the full $50,000 after you sell your home, you’d only pay $10,000. In that case, Unison would take a 40% share in the loss as well. In total, you pay Unison $90,000 after you sell your home.īut let’s say that your home actually decreases in value to $400,000.
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They receive their initial $50,000 back, plus $40,000 from your home’s $100,000 value increase. In that case, you make a profit and so does Unison. Let’s say that 10 years later, you sell your home for $600,000. In the example below, Unison gives you $50,000 in exchange for a 40% investor percentage in your home. Let’s take a look at an example from Unison’s Program Guide. It’s important to understand that Unison will share in your property’s growth or loss. Unison’s minimum investor percentage is 20% and their maximum is 70%. The larger the investment, the larger the percentage of your home’s future value that Unison will take. If you take out a smaller investment, Unison takes a smaller percentage. Unison’s percentage in your home’s future sale value is dependent on the size of your investment. Unison Shares in the Future Growth or Depreciation of Your Home’s Value. In that case, Unison would be willing to make an investment(not a loan) in your property of up to $35,000 (17.5% of $200,000). Unison is willing to give you up to 17.5% of your home’s value in cash in exchange for a percentage of your home’s future value when you sell. I was confused as well.īut after spending hours researching how Unison works (and asking a ton of questions to the rep that we worked with) I’ll do my best to explain their business model clearly and concisely. Ok, so if that headline confuses you, you’re not alone. Unison Allows You To Access Your Home’s Equity Without Taking Out a Loan Ok, so let’s get into how Unison Homeowner works. But, later, I’ll briefly explain Unison HomeBuyer as well. I personally used Unison HomeOwner so that’s what I’ll be focusing on in this Unison review. Unison has two products: Unison HomeOwner and Unison HomeBuyer. The more I read, the more I realized that I never heard of anything quite like this before. But this particular flier caught my attention. Junk mail usually heads straight to the circular file at my home. I first heard about Unison and what they offered homeowners via a pamphlet that arrived in my mailbox a little over a year ago. I just knew that people were going to think that the concept behind Unison’s business was “shady” or that there must be a “catch.”Īnd how did I know that people would think those things? Because those are exactly the things that I thought myself. And I knew that, on the surface, using a company like Unison to access part of my home equity was going to look like just the opposite.
I’m known as the “conservative, personal finance guy” who encourages people to avoid risky financial decisions. Every time I’d consider writing it, I’d chicken out.Īnd here’s why. I’ve put off writing this Unison review for about 6 months now.
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