Does Unison provide tools that I can use to educate my clients about Unison HomeBuyer?
Unison provides collateral that you can use or even co-brand in the Partner Portal. Simply sign-up to become a partner to get access. Or you can always direct your clients to unison.com/homebuyer to check it out for themselves.
Do you subordinate?
Unison’s subordination agreement explains that Unison won’t interfere with any default-related actions the first position lender takes.
If my client buys with Unison HomeBuyer, can they still refinance their mortgage in the future?
Yes. However, the homeowner’s new loan amount, when combined with any other outstanding debt secured by the property, cannot exceed their Maximum Authorized Debt Limit (MAD), which is an amount set at the onset of the Unison Agreement that does not change over the term. If the value of the property has declined from the Original Agreed Value, Unison will typically allow any refinancing up the current principal balance of the existing mortgage loans plus actual, reasonable closing costs. Unison cannot guarantee whether mortgage lenders will agree to a new loan or a refinancing on a property with a Unison Agreement to the same extent or on the same terms as they would for a similar property without a Unison Agreement, or at all.
How does Unison service its programs?
Unison programs have a 30-year term. No payments are required to Unison during this time and minimal interaction is required between Unison and the homeowner. As a courtesy, Unison sends quarterly statements to the homeowner to remind them of the Unison agreement and provide information about the company. Unison’s home partnership team processes all requests related to any of the transaction-ending events.
Who are Unison HomeBuyer's partner lenders?
Unison currently partners with the following lenders:
- American Pacific Mortgage
- Fairway Independent Mortgage
- Guaranteed Rate
- HomeStreet Bank
- Valley Bank
- Goldwater Bank
- Supreme Lending
- Guaranteed Rate Affinity
- Paramount Residential Mortgage Group
- Commerce Home Mortgage
- Amerifirst Financial Inc
- Bay Equity Home Loans
- Land Home Financial Services
Why is a Unison home co-investment not considered debt?
Unison has spent years developing programs that are considered equity, not debt. Debt is giving money with a schedule to defer payment over time. Equity is an ownership interest. It’s kind of like buying stock—an investor gives a company money in exchange for a piece of the company. Unison is essentially buying the option to purchase shares in the property. Like an equity investor in a company, Unison hopes the value of the property goes up so Unison profits. But there are no guarantees. If the property value declines, so does the value of Unison’s interest.
Does Unison appear on title to the property? How does anyone know if a property has a Unison agreement on it?
Since Unison has no present ownership interest in the property, we don’t show on title. However, just like a lender, Unison would appear on a title report as a party with an interest in the property.
Are there any Unison fees?
Unison charges the home buyer a one-time transaction fee of 2.5% of our initial investment. This is due at the time of closing. There is no additional application fee.