Equity share fund

1

Any thoughts on this? Unsolicited. …Heard done privately. .seems like a niche that could be filled

Omni Fund

It is with sheer excitement I share with you that we are now offering down payment assistance of upto 12.5%. This is an equity share program with the following terms:

Minimum Credit Score: 680

Minimum down payment from the homebuyer: 10%

NO INTEREST CHARGED, AND NO MONTHLY PAYMENT REQUIRED ON THE 12.5% DOWN PAYMENT FROM THE LENDER

At the end of 30 years, repayment of the original investment required, plus 35% of true equity (equity created due to mortgage pay down or home improvement is excluded)

Homeowner may payoff the deed after 3 years too

We share in equity AND loss too

First mortgage to be a maximum of $625,500 (Conventional)

Property Type: SFR, Townhouse, PUD and Condo

With this program, homebuyer can avoid mortgage insurance, avoid any HELOC with variable interest rate that is higher (like in the case of 80/10/10).

BECAUSE NO INTEREST IS CHARGED, AND NO MONTHLY PAYMENT IS REQUIRED, DEBT TO INCOME RATIO IS FREED UP. HOMEBUYER CAN QUALIFY FOR A HIGHER PRICE.

Have any prospects in your pipeline that are putting off home purchase due to insufficient funds for down payment? Or due to inability to qualify for the needed price?

Let us put down portion of their down payment and help them buy their dream home.

2

Traditional loans or FHA are better than this option.

This is not so attractive to own home. They get original 12.5% amount at the end of 30 years. The interest over the 12.5% grows as 35% equity of the home for 30 years.

Comparison:

If I borrow 30 year fixed at 4% for 1 Million, I pay appx 1.5M interest in 30 years. The lender gets 100% of original money and 150% percent as interest.

This Omni fund, gets 100% of original payment and (35%/12.5%) = 280% as interest payment.

3

Darn right…But if there are takers, I want a piece of the action. .It is like a second deed of trust with delayed points…But what happens in thirty years? Will the lender still be around to collect?