Here is a snapshot of what your Homium Shared Appreciation Loan might look like in comparison to a normal HELOC or HELOAN based on your inputs. As you review, you will notice that a Homium Loan requires no monthly payments and requires no interest.
Here is a snapshot of what your Homium Shared Appreciation Loan compares with a typical HELOC or HELOAN.
Homium Loans have no monthly payments. You pay a percentage of your home's future value when you sell, refinance or payoff the loan.
Homium
Guild Mortgage
Guild Mortgage
Shared Appreciation
30 Year HELOC
30 Year HELOAN
Loan Program
Loan Term
30 years
30 years
30 years
Loan Amount
$50,000
$50,000
$50,000
Interest Rate
0.00%
8.80%
8.80%
Principal & Interest
Interest Only
Principal & Interest
Originations Fees
$500.00
$0.00
$0.00
Lender Fees
$500.00
$0.00
$0.00
Est. Fees at Closing
$2,398.00
$1,000.00
$1,000.00
Total Interest In 5 Years
$0.00
$22,000.00
$21,572.00
Total Payments In 5 Years
$4,398.00
$22,000.00
$23,708.00
Est. Shared Appreciation in 10 Years
$89,542.00
$0.00
$0.00
Est. Interest Over 30 Years
$0.00
$100,428.00
$92,249.00
Est. Payments Over 30 Years
$93,940.00
$151,428.00
$143,249.00
Minimum Credit Score
620
660
680
Max Loan Amount
$1,000,000
$750,000
$500,000
Max CLTV
80%
95%
90%
Here is a snapshot of what your Homium Shared Appreciation Loan might look like in comparison to a normal HELOC or HELOAN based on your inputs. As you review, you will notice that a Homium Loan requires no monthly payments and requires no interest.
Loan Program
Shared Appreciation
Loan Program
30 Year HELOC
Loan Term
30 Years
Loan Term
30 Years
Loan Amount
$50,000
Loan Amount
$50,000
Interest Rate
0.00%
Interest Rate
8.80%
Est. Monthly Payment
$0.00
Principal & Interest
Est. Monthly Payment
$367.00
Interest Only
Origination Fees
$500.00
Origination Fees
$0.00
Lender Fees
$3,000.00
Lender Fees
$0.00
Fees At Closing
$5,800.00
Fees At Closing
$0.00
Est. Cash You Get
$45,602.00
Est. Cash You Get
$49,000.00
Total Interest In 5 Years
$0.00
Total Interest In 5 Years
$22.000.00
Total Payments In 5 Years
$4.398.00
Total Payments In 5 Years
$22.000.00
Est. Shared Apprec. In 10 Years
$89.542.00
Est. Shared Apprec. In 10 Years
$0.00
Est. Interest Over 30 Years
$0.00
Est. Interest Over 30 Years
$100.428.00
Est. Payments Over 30 Years
$93.940.00
Est. Payments Over 30 Years
$49,000.00
Minimum Credit Score
600
Minimum Credit Score
660
Max Loan Amount
$1,000,000.00
Max Loan Amount
$750,000.00
Max CLTV
80%
Max CLTV
95%
With a Shared Appreciation Loan, you are sharing a portion of your home's future value with Homium.
To better understand how it works, see below for an example of how much your home may be worth in the future and what your payment to Homium may be when you sell, refinance or payoff your Homium loan.
Current Home Value
$520.00
Assumed Apreciation (%)
6.00%
Shared Appreciation Percentage
9.62%
CLTV
67.31%
Estimated Future Home Value
$931,241.00
Homeowner Portion Before Mortgage Payoff
$841,698.00
Homium Portion
$89,542.00
Homium Portion If Home Value Below $500,000
$50,000.00
10% HOME OWNER
30% HOMIUM
60% FIRST MORTGAGE
The graph below shows the relative owed under the first mortgage and Homium loan as well as the value retained by the homeowner. Note that if your home were to decrease in value, you would only owe repayment of the amount borrowed.
The comparison and calculations derived above are for illustrative purposes only and reflect assumptions for certain values such as future home price appreciation which are highly uncertain. Homium Inc. and Guild Mortgage Company LLC make no representations as the accuracy or validity of these assumptions. Different assumptions could result in materially different results. This is not an offer to lend and there are no assurances that a borrower will qualify for any loan or financing. Real estate market conditions involve risks, variables and uncertainties that may cause the real estate values to differ materially from geographic area, timeframes, and product types. You should consult your own accounting, legal and tax advisors to evaluate the risks, consequences, and suitability of any real estate transaction.
