If you are short on dough and wouldn’t mind sharing your equity with a stranger, this might be an interesting option.

We first came across this company back in 2017.

Officially they are co-investors, not lenders, and the money they contribute is secured with an option contract and lien on the property – but no monthly payments:

https://www.unison.com/read_more/1U8IgX7as5VFPbNLtvehNd

As expected, they charge upfront fees too:

HomeBuyer: There is a one-time transaction fee equaling 2.5% of the cash proceeds from Unison at your closing. When closing on your new home, you will pay all transaction costs, including third party fees (such as credit and appraisal reports, and title and escrow fees), any lender origination fees, in addition to the Unison transaction fee. This will increase the amount of cash you need to contribute to the purchase transaction at closing.

HomeOwner: There is a one-time transaction fee equaling 3.9% of the cash proceeds received from Unison at your HomeOwner Agreement closing. This fee covers all procesing and third-party costs from appraisal and home inspection to titles, state taxes, and settlement costs. For example, if your home’s value is $500,000 and Unison is making a $50,000 investment in exchange for a 40% Investor Percentage, the transaction fee would be $1,950 and you would net $48,050 at closing.

But under the right circumstances, it might be a good way to go.