Highlights

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                                              Leverage Your Home Equity

.Feature

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•   Offers cash for a home equity interest
•   Provides 10% to 15% of certified appraisals
•   Entails large savings on down payments 
•   Enables the purchase of unaffordable homes
•   Requires no payments for five years
•   Reduces mortgage payments and/or rates
•   Is not a loan (no debt or interest)
•   Shares in the loss in home value 
•   Needs no repayment if there is no home equity
•   Bears no risks  
•   Results in a higher return with a smaller down payment
•   Allows the usage of the cash provided for any purpose
•   Can be paid off at any time 
•   Is callable after five years
•   Credits the pro rata costs of approved home improvements

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Criteria

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• Existing single-family home, detached, and owner-occupied principal residence

• Buyer must make a minimum down payment of 5%  

• Home prices must offer the potential of an above-average appreciation for the community

• Homes must be financed with a single mortgage having a fixed rate for at least seven years

• Cash requested is to be repaid in addition to a percent of the net home price appreciation

• No encumbrance with second mortgages or home equity loans except for payoffs

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Costs

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• Transaction fee of 2% which is deducted from the requested cash

• Percent of the net home price appreciation, if any

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