Gradual Home Ownership
Posted: 4 years ago
Description
Gradual Homeownership boosts your budget to match the type of home you can already afford to rent.
We need a new way to buy homes because lenders may not lend you enough.
So, even if you can afford to rent a nice place, you still might find it difficult to buy the same type of home with a mortgage.
Gradual Homeownership is a new option for people who can't get what they need or want with a mortgage.
We don't lend you any money! Instead, we buy the home with you. If you pay for 5%, we pay for the remaining 95%.
We buy it together, outright. Lending is the problem so the money comes from our funding partners who are well-established institutions, like pension funds.
Where the money comes from
You own the share you bought and pay rent on the share they bought. For them, your rent is a long term, low volatile investment, which gives them a steady return.
What's in it for them?
If the worst happens and we go out of business, you're not affected. The agreements you sign are designed to continue independently of Wayhome. The structure of the investment also means the funding partners cannot withdraw their money, so you're safe and protected.
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