BOULDER, Colorado, February 2, 2023 (GLOBE NEWSWIRE) — Quarter Co., Ltd.is the first owner-occupied home financing program and technology platform in the United States, fartFirst home purchased using innovative financial services. The pilot home was purchased by Shannon Deesch, the company’s CEO in Longmont, Colorado, for his $740,000. Monthly home payments were 50% cheaper for him than a 30-year mortgage.
“How important this first partially funded home is to me personally, and to all other millennials like me who are frustrated by how unaffordable housing is today. “I live in an expensive urban market, like many of my peers who are behind on rent. With a 50% reduction in monthly out-of-pocket costs compared to a traditional mortgage, you can now afford to buy this home.Our mission at Quarter is to help millions like me To bring this affordable housing to young people and millions of underserved families fleeing the American dream of owning a home.”
The Quarter Fractional Equity Program is an innovative financing model based on the purchase of a financial interest by an investor, linked to a home through a special purpose vehicle, and sharing with the homeowner when the property is acquired. be a common tenant. Quarter was advised by DLA Piper LLP (USA) on establishing a regulatory compliance framework for its operations. Quarterly capital is based on equity/co-ownership as opposed to traditional debt-based mortgage capital currently only used to finance homes.
“The affordability crisis facing millennials like myself and hitherto underserved communities is largely due to a combination of interest rate-driven mortgages and unaffordable home prices. It’s a thing,” explains Deesch. “If you’re a first-time buyer, you don’t have stock to trade in for a down payment, and mortgage rates are at their highest level since Friends appeared on NBC, millions of us are are simply out of luck and stuck in an apartment or rented house.
“Quarter offers homeownership opportunities by enabling investors to invest. Owned house For the first time in history. By financing your purchase from a co-owner investor, you can enjoy the monthly cash flow from your investment while sharing your proportional appreciation profits with homeowners like me. I take care of the house as an owner, not a renter.
“Adding it all up, Quarter partial investors enjoy similar economics to owning an entire home, while homebuyers like myself can pay up to 50% more monthly compared to a mortgage. We are enjoying the savings of .This changes everything.”
About the quarter
quarter is the first owner-occupied, partial equity-based home financing program and technology platform in the United States aimed at providing home ownership to millions who cannot afford to buy a home on a traditional debt basis. A well-vetted quarter for regulatory compliance favors passive returns from consumers who need alternatives to high-cost mortgages to own homes and partial home equity portfolios – Prefers passive returns from partial residential property portfolios – Direct bonds.