Have more buying power and a lower monthly payment with habi. But how?
Have more buying power and a lower monthly payment with habi. But how?
Habi Contributes to Your Downpayment
Habi contributes between 5 and 15% of your new home’s value to help you reach up to 20% downpayment. This is called a co-investment.
Reduce Monthly Mortgage Payments
By having a 20% downpayment you can lower your monthly costs and avoid paying for a private mortgage insurance (PMI).
Now you have more purchasing power
With Habi, you’ll have more home-buying power upfront and save money each month with lower monthly payments.
The trade-off with Habi
As a co-investor Habi claims a percentage the appreciated (and depreciated) value of your home, sharing both gains and losses.
What does this look like?
Let’s say you are looking to buy a $400,000 home…Buying with Habi
You purchase a home at $400,000 Habi provides 15% of the downpayment, you provide 5%, totaling $80,000. Since you reached 20% downpayment you no longer have to pay private mortgage insurance.Your total monthly payment is…
$1,921 which includes principal, interest, and taxes.Buying without Habi
You purchase a home at $400,000 You can only afford to provide 5% down payment totaling $20,000. You are now required to pay private mortgage insurance in addition to a higher monthly payment.Your total monthly payment is…
$2,434 which includes principal, interest, taxes, and PMI.Look at those monthly savings!
Still feel like you want to see more about how it works? Check it out.Afford more home. Comfortably.
Have room to grow or settle into your forever home much sooner than you ever imagined. With habi, you’ll enjoy more buying power with a comfortable mortgage.