Frequently Asked Questions

Yes, you can still sell your home while participating in the Equity Share program. The investor's share of the property will be paid out from the proceeds of the sale.

Nothing. This simply means you will own the shares that you already own. The more shares you own when you go to sell your home, the more profit you will get from the proceeds of the sale.

Generally, there are no specific restrictions on how you can use the funds received from the Equity Share program. You can use the funds to pay off debts, make home improvements, invest in a new business, or for any other purpose you deem necessary.

The value of your home is determined by a professional appraisal, which takes into account factors such as the property's location, condition, and comparable sales in the area.

The minimum and maximum amount of equity you can access through the Equity Share program will depend on factors such as your home's value, the amount of existing equity, and investor preferences. Tommie Mac will work with you to determine the appropriate amount based on your specific situation.

Yes, you can use the funds from the Equity Share program to pay off your mortgage, pay off other debts, or use them for any other purpose you deem necessary.

Tommie Mac is a funding protocol that helps borrowers with unique situations obtain secondary liquidity prior to their loan being funded. This allows non-QM borrowers to become homeowners overnight.

Refinancing your home while participating in the Equity Share program may be possible, but it will depend on the specific terms of your agreement with the investor and any lender requirements. It's important to discuss your refinancing plans with Tommie Mac and your investor to ensure you understand any potential restrictions or implications.

The Equity Share program allows homeowners to access their home's equity without taking on new debt or refinancing their mortgage. Instead of borrowing against the equity, homeowners sell a fractional interest in their property, which can be bought back at any time.

Yes, you can make home improvements or renovations while participating in the Equity Share program. However, it's important to communicate with Tommie Mac and the investor about any significant changes that may affect the value of the property.

If your home's value increases, the value of the investor's shares will also increase, and vice versa. When you decide to buy back the shares or sell your home, the updated value will be used to determine the buyback or payout amount.

There may be fees associated with the Equity Share program, such as appraisal fees, legal fees, and administrative costs. These fees will be clearly outlined and explained during the application process.

To qualify for the Equity Share program, your home must meet certain criteria, such as having a minimum amount of equity, being in a marketable location, and being in good condition. You can quickly find out if you qualify by visiting our website and filling out a short application form.

To buy back your shares, simply contact Tommie Mac and let us know that you're ready to repurchase. We will guide you through the process and help you complete the transaction.

If you have more questions or need assistance, you can get in touch with Tommie Mac by visiting our website and using the contact form provided or calling our customer service hotline. We are here to help you with any questions or concerns you may have about the Equity Share program.

Yes, your personal information is secure with Tommie Mac. We take data security seriously and employ the latest security measures to protect your information.

The main benefits of the Equity Share program include accessing your home's equity without taking on new debt, flexible buyback options, and the potential to save on interest payments compared to traditional financing options.

The Equity Share program may have tax implications depending on your specific circumstances, such as potential capital gains taxes when buying back shares or selling your home. It's essential to consult with a tax professional to understand the tax implications of participating in the program. As for insurance, you'll need to maintain adequate homeowner's insurance coverage on the property, including coverage for the investor's interest.

The primary focus of the Equity Share program is on owner-occupied homes. However, the program's availability for rental properties or vacation homes may depend on individual circumstances and investor preferences. It's best to contact Tommie Mac to discuss your specific situation.

The Equity Share program is a revolutionary and innovative way for homeowners to access their home's equity without having to sell their property or take on new debt. Homeowners can sell a fractional interest in their property to an investor and access the funds they need for various purposes.

The Equity Share process typically takes a few weeks from start to finish, depending on factors such as the speed of the appraisal and the completion of any required legal documentation.