The due date is the 1st of every month. Unison provides a 15 day grace period for payment due in which late fees are not assessed.

Your payment history is viewable on your monthly statement and the MyUnison portal.

You can mail in a physical check, a money order, or set up a bill payment through your financial institution. We do not currently have an option to accept payments over the phone.

You can mail checks, bill pay, or money order payments to either of the mailing addresses below.

Please contact your financial institution to confirm if the check has cleared. If not, it may have been lost in the mail. Ask your financial institution to issue a stop payment on the check and send a new check to Unison.

Please inform Unison how you would like the additional or overpayment to be applied. Payments are regularly applied to interest, any applicable fees, and future payments. If you would like the overpayment to be applied to reducing the principal balance, please state the amount you would like applied on your payment coupon.

Any underpayment will be held in a suspense account until the full amount is received to satisfy the entire monthly payment. A late fee will be charged on the full monthly payment if the full payment amount is not received within the 15 day grace period.

Your statements will be mailed to your address. If you haven’t received your monthly statement in the mail, you can also obtain a copy of your statement by logging into your MyUnison portal under the “Documents” section.

If you have paid $600 or more in mortgage interest during the year to UMC, UMC will send you a 1098 tax form. If the interest paid to UMC is less than $600, UMC does not send out this form. For information and guidance, you can consult a qualified tax advisor: contact the IRS at 1.800.829.1040, or visit IRS.gov.

Your payoff becomes due when either your 10-year term expires, you decide to sell your property, or you are ready to buy out your loan through a refinance or lump sum payment. Please review your agreement for additional terms and conditions that may apply.

At the end of your loan, you will owe the balance of the principal, deferred interest, and the agreed-upon percentage of the home’s appreciation since the origination of the loan, if any (known as the Shared Appreciation Interest).

Please follow the instructions for selling your home or obtaining an appraisal, as there are important requirements, conditions, and critical timelines to complete the payoff process.

To determine the Ending Value, Unison must assess the “fair market value” of your property from a recent appraisal report or the purchase price (if the property is being sold). Capital Improvement Adjustment or Deferred Maintenance could also affect the ending value, decreasing or increasing the appreciation calculation.

You can sell your home at any time. Whenever you choose to sell, you must notify Unison 45 days prior to closing to give us time to determine the Shared Appreciation and send us copies of certain documents related to the sale -- such as the listing agreement, purchase contract, counter offers, disclosures, etc. When the sale of your home closes, you will pay Unison the amount owed. But note that if the sale is not an arms-length transaction or if it is materially below fair market value, Unison reserves the right to obtain an appraisal to use in order to determine the Ending Value.

To evaluate your property and determine the Ending Value, Unison requires an appraisal report. To ensure an unbiased valuation, we use independent and licensed Appraisal Management Companies (AMCs), who select the individual appraiser. AMCs are the preferred means for obtaining appraisals in real estate transactions. They provide a “firewall” between financial institutions and appraisers, as required by federal guidelines. If your lender has ordered an appraisal meeting Unison’s standards, you may submit it for consideration.

Please refer to the “How my payoff is calculated” section for the rest of the process.

You will be responsible for paying the appraisal fees for termination or capital improvement adjustment requests. If at any event, a second appraisal is requested, the party requesting the second appraisal will be responsible for that appraisal fee.

During the term of your loan with Unison, you are required to maintain your property in good condition, subject to normal wear-and-tear. When shared appreciation interest is due and calculated, if it is determined that the property was not properly maintained, Unison may apply a Deferred Maintenance Adjustment. One or more appraisals, inspections, or repair estimates obtained from independent third-party providers may be used to determine the amount of the Deferred Maintenance Adjustment. If it is deemed via inspection that deferred maintenance has decreased the value of the property, the value of the decrease will be added to the Ending Value.

Unison believes that if you make improvements to your home that boost its value (beyond regular maintenance), you should get all the benefits. That’s why we have a feature called a Capital Improvement Adjustment.

To qualify for a Capital Improvement Adjustment, you must be at least 3 years into your Equity Sharing Home Loan term. The work will also need to be completed by licensed contractors and with necessary permits if applicable. Keep good records to fully document the project. Remember to save before and after photos of each project. An independent third-party appraiser determines if the capital improvements increased your home value. If so, the ending value used in the Shared Appreciation calculation will be reduced. Keep in mind that some remodels add more value than others, while some don’t add any new value at all.

If you are experiencing financial difficulties we want to help you find solutions to get you back on track. You may be eligible for options such as forbearance or a repayment plan. The mortgage assistance application helps us understand your financial situation and the reasons for your hardship. It also verifies information about you, any co-borrowers, and the property. One of our loss mitigation specialists will let you know which additional documents will be required in your situation.

For a smoother process

• Make sure documents are clear and legible
• Don’t alter any pages (no strikethroughs, cross-outs, etc.)
• Send all pages, even the blank ones

HUD-approved housing counseling agencies may be available to provide you with additional information and assistance. Call 888-995-HOPE (4673) to speak with an expert about your individual situation or visit https://www.hud.gov/homeownerhelp.

If you are in a FEMA-declared disaster area, and have been impacted by a natural disaster, we are here to help. Depending on the nature of your hardship, we have a number of ways to assist. Please call us at 855-864-7664 to learn more.