Shared Equity Agreement Template With Mortgage In Utah
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These agreements let you access funds in exchange for a share of your property's future appreciation. Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page.
A shared equity mortgage is an arrangement under which a mortgage lender and a borrower share ownership of a property. Shared equity mortgages can also occur when there are multiple buyers of a single property. The borrower must occupy the property.
Equity agreements commonly contain the following components: Equity program. This section outlines the details of the investment plan, including its purpose, conditions, and objectives. It also serves as a statement of intention to create a legal relationship between both parties.
Home equity sharing may also be wise if you don't want extra debt reflected on your credit profile. "These agreements allow homeowners to access their home equity without incurring additional debt," says Michael Crute, a real estate agent and operations strategist with Keller Williams in Atlanta.
Average HELOC rates by market Your potential HELOC rate also depends on where your home is located. As of January 1, 2025, the current average HELOC interest rate in the 10 largest U.S. markets is 8.36 percent.
Home equity sharing may also be wise if you don't want extra debt reflected on your credit profile. "These agreements allow homeowners to access their home equity without incurring additional debt," says Michael Crute, a real estate agent and operations strategist with Keller Williams in Atlanta.