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)