SEE THE MATH

Now, let’s fast forward a few years to when you decide you’d like to sell/refinance the home. The home value appraise for $1,500,000, and over thetimeyou’velivedinthe home you’ve paid off $100,000 of the mortgage principal.

Once the home is sold/refinance, the bank will receive the first payment. Subsequently, any mortgage principal payments made by the coowner will be reimbursed to them from the sale proceeds. It's worth noting that the co-owner will be accountable for the closing costs. However, based on the home's appreciation rate, they might qualify for a selling bonus that can assist in covering a portion of their closing costs.

Upon completion of any final revisions, we will distribute the remaining funds based on our equity distribution. You will receive your mortgage payments along with the appreciated value of your initial down payment, while Pyramine will obtain the appreciated value of their down payment contribution.