Shared Equity. Prior to loan clos- ing, the Lender will advise the appli- cant that interest assistance is subject to equity sharing.
Shared Equity. A form of discounted sale where the purchaser buys at a percentage of the open market value. The remaining equity share will be held by the Developer until the remaining equity share is bought or the leaseholder sells the house. There will be no rent charged to the leaseholder for the proportion of equity they do not own. This product is offered to customers who fulfil strict eligibility criteria.
Shared Equity. Home Ownership is where an Eligible Household purchases a Dwelling with the assistance of a third-party who subsequently has a right to a share in the Dwelling value. The share is defined as a Social Equity Contribution and is repaid on future sale or refinancing.
Shared Equity. 7.1 If this paragraph applies the Affordable Housing Unit shall be only transferred on a Shared Equity basis into the joint names of the Owner and the Qualifying Person
Shared Equity. This webinar introduces shared equity programs, including the community land trust model, and how incorporating shared equity provisions into SHIP strategies can effectively expand and preserve the affordable housing stock in any community. The presenters will cover the philosophy and mechanics of shared equity programs, the benefits of shared equity homeownership from the perspective of the homebuyer and the community, and best practices for how a local government can partner with a community land trust to implement a SHIP shared equity program. Key topics will include an overview of common shared equity models, the difference between subsidy recapture and subsidy retention, factors to consider when establishing a CLT program and designing a resale formula, local government disposition of surplus lands, lending for shared equity programs, and recordkeeping.
