We are helping homebuyers build wealth and create stability in one of the most challenging markets for first-time buyers. Learn more about who we are helping and how. 

First-time homebuyers face the toughest market in 50+ years, with over 1 million struggling each year. Home affordability is the lowest it’s been in 75+ years, mortgage rates are at 20-year highs, and student debt keeps many qualified buyers out of the market. 

Market dynamics are also changing, as all-cash corporate buyers are increasingly investing in single family homes and squeezing many low and middle-income families and individuals out of the market.

First-time homebuyers need help, and the options available to help them today are often insufficient. Many existing low down payment mortgage options are not competitive in today’s market, and most are only available to low-income borrowers. This leaves a significant portion of the population – the ‘missing middle’ –  without support. Existing rent-to-own models are also often inadequate, as they do not provide first-time homebuyers with a true equity stake on day one.

As a result, the missing middle often struggles to buy a home and build real wealth. This is where we come in.

Our solution

Our mission is to create a better, more affordable path to home ownership for first-time homebuyers. Through fractional home ownership, we help first-time homebuyers – most often in the missing middle – purchase their first home and begin building wealth on day one.

We work with our customers (we call them “Ownis”) to identify single family homes that meet our
criteria. We make all cash offers on our customers’ behalf and cover all upfront costs. We then fractionalize the homes into 10k investable shares (“bricks”) – Ownis buy 200 bricks, or 2% of the home, the day they move in, and investors buy the balance of bricks. Each month, Ownis pay rent on bricks they don’t own and buy additional bricks. Ownis have the option to purchase the home from investors at any point at the then current market price.

Our model puts homebuyers and investors on the same team – homebuyers and investors reap the collective benefits of building equity, creating stability, and investing in the health of local communities for years to come.

About our Ownis

Our Ownis are first-time homebuyers who likely would not have been able to purchase a home without our program. Our Ownis represent a diverse cross-section of the population – 67% are Black or LatinX and 50% are first generation immigrants. Half of our customers are above the area median income and half are below; about thirty percent are below 85% of the area median income.

Our Ownis are professionals, blue collar employees, and gig economy workers with good income and credit; yet, they all faced challenges when they tried to purchase a home on their own. Our current portfolio includes a small business owner, physician assistant, physical therapist, dog groomer, and more.

Our Ownis are people who should be able to buy a home, but who are unable to do so on their own in today’s market given current market conditions.

Our Ownis prior to Ownify

Home ownership in America is a key component of the American Dream — it creates a sense of pride and is a way to build wealth for future generations.

Most of our Ownis decided to purchase a home because they wanted a place to call their own (100% of Ownis), and they wanted to make a financial investment and build equity (83% of Ownis). Some of our Ownis were also in-part motivated to purchase a home given their poor experiences renting. Renting can create a sense of financial insecurity and instability – some of our Ownis experienced frequent rent increases before our program and ~30% reported having to move as a result of rent increases.

Before purchasing a home with Ownify, almost all of our Ownis tried to get a mortgage, but it didn’t work out.

Most often, the barrier our Ownis faced was the high down payment – 67% of our Ownis say they didn’t have enough money for a traditional down payment. This is a common occurrence in today’s market given student debt prevents many people from building sufficient savings. In other instances, our Ownis say they struggled to get a mortgage because of non-traditional or commission-based incomes. Traditional financial institutions are often unable to underwrite customers who recently changed jobs or may not have a traditional W-2 (e.g., self-employed business owners, gig economy workers).

Our low down payment model combined with our unique underwriting process made home ownership possible for our Ownis.

Homeownership with Ownify

Our program helps Ownis get into the homes of their dreams, especially when traditional mortgage products fail them. We help Ownis pick the right home and make a strong offer – 100% of our Ownis say their new living situation is preferable to their prior living situation, and we have an 85% win rate with all cash offers. Almost all of our Ownis report having more space in their new home and many report being in a preferable location. With the help of our program, Ownis are finally able to have a place to call their own.

Financially, our Ownis also benefit. Our program has resulted in significant savings for our Ownis – they have been able to save an average of $34K on their down payments and $291/month on monthly payments (compared to a traditional mortgage). All of our Ownis have also been able to build wealth through home price appreciation – on average, they have built an equity stake of $14.9k in their homes in the first year of the program. Importantly, our Ownis are unable to ever be underwater on their home (i.e. negative equity) – this helps create more financial security for Ownis and is a feature that 100% of Ownis have said was important to them.

Our program has helped our Ownis achieve the American dream and build wealth in the process. Across the board, all of our Ownis say they feel proud to have a place to call their own.

Interested in helping address the housing affordability crisis? You can get started investing here by submitting your information and scheduling a meeting with a member of our team.