The ever increasing equity in your home is the foundation for final repayment. Finally your equity can be converted to working funds with no debt increase or monthly payment schedule.
Payment occurs at contract term ending, typically up to 10 years or if you sell/refinance your home prior to the agreed upon period . ResEquity agreement to prepay your upgrade included a equity percentage of your home in lieu of interest or monthly payments.
It will vary depending on each home owners financial position and trajectory of the home values in your town. A typical percentage is 4%. With the housing market volatility both homeowner and ResEquity have skin in the game.
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