Housing Finance Fintech Sees Soaring Growth As It Helps Americans Buy Homes
Unison is among a crop of Bay Area companies eager to change how Americans buy, sell and finance homes.
Unison helps people buy houses by purchasing stakes of home equity. Some customers use the money for larger down payments, which can allow buyers to shop for pricier homes than they could otherwise. Others reduce the mortgage debt they take on when they buy a home. Long-time homeowners can use Unison to turn some of their home equity into cash.
Since Unison’s stake in a home represents equity and not debt, there is no monthly payment. Unison’s institutional investors putting up the money to buy all these stakes of home equity ultimately share in the upside or downside of changes in a home’s value.