First Things First
Welcome to our journey page! You might have come across our website and are wondering what we are about… So, first things first! EquiFi is a contraction of the words equity and finance. The origin of the term “equity” is Latin for just and equal. We did like the double entendre (get it? Equity finance… it indicates equity and being equitable). We are a C corp, just like any other for-profit enterprise, but we are also a public benefit corporation, characterized by social values and purpose… And, what are we doing? We are offering you an alternative. We are giving you the opportunity to purchase a home or access equity in your home without breaking the bank, literally and figuratively! If you want to become a homeowner – we co-invest with you, so that your monthly mortgage payments won’t drain your resources. If you already are a homeowner (Baby Boomer, Gen X, Great Generation) and need liquidity – we allow you to access your equity without any interests or monthly payments associated with it.
Homeownership and wealth creation have been strictly related since the beginning of time. It is no secret that owning a home, building wealth – inside and outside of it – and balancing exposure are crucial when improving one’s standards. Because we believe that everyone deserves an opportunity at living their ideal life, whatever that may be, we are relentlessly searching for innovative solutions that address the needs of those consumers who refuse to abide by circumstances set for them by someone else. We do not align with mainstream sources who inform Millennials that it’s fine to rent medium/long-term and that it’s the new norm to live in the parents’ basement for a (long) while. Homeownership is not for everyone either, you might say. Agreed. It takes responsibility, punctuality, commitment, steadiness of income and many other similar factors. But you are all that or, if that is not you yet, you’ll get there, and very possibly we can help you in the process. For current homeowners, there are also challenges… being over weighed in home equity and needing to dispose of some liquidity can become a problem when the bulk of the wealth is concentrated in the home, and at the moment there are just few solutions, mainly debt-based.
You finally figured us out. We do not particularly like debt! I mean, we do to a certain extent. We don’t like it when it rules you, when it owns you and when it overwhelms you; and, because we believe that balance in life is the key to every healthy ecosystem, we designed a co-investing solution through equity that brings this balance much closer to where it should be. Maybe we can explore this more in our next post! Thanks for your time. We loved having you here. Hopefully we’ll see you again next week!