October 8, 2019

FirstREX Changes Name to Unison

SAN FRANCISCO — December 5, 2016 — FirstREX, the leader in home ownership investments is changing its name to Unison and introducing favorable new terms for its flagship home buying program Unison HomeBuyer.


Unison pioneered the home ownership investment category over the last 10 years. Now, in combination with expanding national lending relationships the revolutionary Unison HomeBuyer program is available to more first time, Millennial and move up buyers across the country. "Our home ownership investments empower home buyers with unprecedented flexibility, choice and control" said Co-CEO Thomas Sponholtz. "Unison HomeBuyer solves a fundamental need by contributing up to half of the down payment on a home purchase. With our partnership, buyers putting down less than 20 percent can buy more home with less debt and a lower monthly payment."


New Unison HomeBuyer Terms


Unison provides up to half of the down payment required on a home. The cash provided is an investment, not a loan, so there are no monthly payments or interest. Instead, the company hopes to earn a return on its investment by sharing in the appreciation when the home owner eventually sells. If the home value decreases, Unison also shares in the loss.

New home buyers are particularly vulnerable, the index shows, because they often cash out their entire liquid portfolios to make a downpayment — whether 5% or 20%. A new homebuyer who borrows 5 to 20 times their net worth is taking so much risk that they have a realistic chance of losing their entire net worth and becoming insolvent.


Along with the name change, the terms of the Unison HomeBuyer Agreement have improved. Unison's share of the appreciation has been reduced at every investment level effective November 30th 2016.


"We have matured as a company, and we are now making Unison HomeBuyer available to millions of Americans, and at a lower cost" said Co-CEO James Riccitelli. "Home buyers worried about affordability or committing every dollar of their savings towards a down payment no longer need to sit on the sidelines, because Unison HomeBuyer empowers them to buy the home they want today. We are cutting the time it takes to save for a down payment in half."

New website features at www.myunison.com


The new website provides a comprehensive introduction to Unison HomeBuyer. Prospective homebuyers can see the power and flexibility of a home ownership investment. Success stories of Unison clients illustrate how home buyers have used a home ownership investment to get the home they really want.
"Home ownership investments are the only new thing to happen to real estate in a long time," said Director of Marketing Sabin Speiser. "Prospective home buyers owe it to themselves to visit myunison.com before they go home shopping. They'll learn how a home ownership investment empowers them to dramatically increase their down payment so they can buy more home, lower their monthly payment or reserve cash – without taking on more debt."