Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Unison PayOff

Advertiser Disclosure

Repayment of loan

The term for paying debt off is 30 years. The repayment can be made in two ways: through the purchase of their share or through selling or refinancing the property.

If you choose to purchase their share, you will have to pay the company back the original sum, and Unison's share of your house's increase in value. Oftentimes, they request an appraisal to gauge that number.

If you choose to sell the house, you will be required to return the original sum and their share of your house's change in value. As far as refinancing goes, it's theoretically possible to take out a loan larger than your current one, take the cash and pay the company back with it.

While the repayment term is 30 years, it must be noted that you cannot repay your debt during the first five years.

Early payoff

There are no penalties for paying debt off earlier. However, you cannot pay the money back earlier than five years from the date you finalized the agreement.

Fees

The biggest fee that you'll have to pay is what you'll be charged if your house's market value increases. If you sell it, you will owe four times the original percentage. In simpler terms, if they invest 8% of your house's original value, you'll owe 32% of your house's increase in value.

Besides the above, some costs need to be taken into consideration, including:

  • Processing fee of 3%

  • Appraisal fee ($1,250 max)

  • Closing costs ($1,750 max)

FAQ

How will I pay Unison?

You can use any of the preferred Unison payment options in order to settle your debt. It must be noted that you can't pay back the debt during the first five years.

How does Unison calculate costs?

Costs and investments of Unison are calculated depending on a multitude of factors, including DTI ratio, your mortgage's balance, credit history, present income, and estimated future risks.

What if I don't pay Unison?

It's not a good idea to not pay. You will only incur more debt and force Unison to pursue legal action against you.

Offers
Unison
Home loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$30,000-$500,000
Rate
i

Interest rate

up to 2.5%
Term
i

Loan term for the financial product

up to 30 years
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Today Unison Calculator of 20.06.2024

Unison calculator will allow you to calculate an approximate payment schedule for the loan

Unison calculator
Interest rates are given in accordance with the rates of the Unison of 20.06.2024
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