Unison, a San Francisco-based company, is offering to assist buyers with their down payments in exchange for equity in the subject property, according to an article in the Miami Herald.
The company, formerly called FirstREX, is one of a handful of firms developing novel financial products aimed at helping buyers afford increasingly expensive homes now that the market has recovered from last decade’s housing bust.
While the program is not for everyone, some buyers would be able to finally afford to move from renting to owning, reduce monthly housing expenses and build equity over the long run. If the market tanks, Unison shares in the misfortune.