About Us
About Us
What is a shared equity product?
Shared equity products are innovative and exciting home financing solutions that empower homeowners to access the equity in their home to meet their financial needs.
A shared equity product, otherwise referred to as a home equity investment or home equity agreement, is a financing tool that enables a homeowner to receive a lump sum of cash in exchange for a share of their home’s future equity or appreciation. This gives the homeowner greater flexibility and control over their finances, allowing them to pay off high interest debt, start a small business, make home improvements, or pay for a child’s education, all without the need to make monthly payments.
Shared equity products are not home equity loans or home equity lines of credit. Unlike other home financing choices, shared equity products do not require monthly payments, and they typically have no income requirements that might limit customers’ access to the equity they have built in their homes. In addition, unlike loans, homeowners are not personally liable if the amount the investor receives at settlement is less than the amount they are entitled to under the contract.
Members of the Coalition for Home Equity Partnership adhere to applicable federal and state regulations and support clear and appropriate rules of the road that both protect consumers and ensure they have access to innovative financial products that suit their needs.
Our members operate in Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington, and Washington, DC.
