New on Acorn Finance: Meet the Home Equity Investment (HEI) from Point. Customers can now pre-qualify for up to 30-year financing with no monthly payments.

Point's Home Equity Investment (HEI) is ideal for homeowners who want to access the equity they have accumulated in their homes and are interested in the flexibility of having no monthly repayments.

ALTERNATIVE TO DEBT

Point's Home Equity Investment (HEI) is a tax-deferred investment of up to $250K or 20% of a home’s value, whichever is less. HEIs work on both owner occupied and investment properties, and can occupy 2nd or 3rd lien position.

NO MONTHLY PAYMENTS

There is no payment due until the end of the term and there are no pre-payment penalties for buying out one's HEI early. This flexibility for your customers allows reduced debt load and greater month-to-month financial freedom.

HOMEOWNER-FRIENDLY UNDERWRITING

Point's HEIs are underwritten on a technology platform built from the ground-up to support this new type of financing. Homeowners who are not eligible for traditional loans may be eligible for a HEI.

How does Point’s HEI work?

• If a customer resides in a state that is served by Point, they will have the option to answer 2 additional questions on the Acorn application form about their estimated home equity and estimated remaining mortgage balance.

• If a customer pre-qualifies for a Point offer, this will show up on the Acorn offers page as one of the pre-qualified offers.

• Customers can select a Point offer to learn more offer details and specifics from a Point specialist. Then they will finalize the amount of investment they wish to take, and the terms of the agreement. Terms range from 1-30 year terms with no monthly payments, ever.

• Homeowners get a lump sum payment in exchange for a share of their future home appreciation, without the added burden of a monthly payment.

• Funding times may vary, since customers need to finalize the offer they want to take and schedule a home appraisal. As with all Acorn payment options, the customer receives their funds directly from the provider and pays as a cash buyer according to the terms of their agreement with their contractor or service provider.

• Shared appreciation, shared risk: Point is aligned with the homeowner and shares in the upside or the potential downside of the equity position for the term of the agreement.

• Homeowners pay Point back with a cash-out refinance, home equity loan, or HELOC any time during the 30-year term.