Question 1

How do agents pre-qualify customers with Ownify?

Accepted Answer

Agents invite their customers to apply via the Ownify online application for pre-qualification. Ownify notifies the agent and customer with the results.

Question 2

What commission levels does Ownify pay to agents?

Accepted Answer

Ownify pays market commission rates to buyer's agents who bring qualified customers to the program.

Question 3

If I bring a buyer to Ownify, can I list the property when they move out?

Accepted Answer

Yes. The original buying agent is offered first refusal to list the property when the customer decides to move out.

Question 4

Who is my main contact at Ownify?

Accepted Answer

Every agent gets a dedicated contact at Ownify, available 8am–7pm Mon–Sun.

Question 5

How do I become an Ownify Accredited Agent?

Accepted Answer

Apply through the Ownify Accreditation page. You'll complete a short training and join our agent network.

Question 6

What is Ownify's definition of a first-time homebuyer?

Accepted Answer

A first-time homebuyer is someone who does not currently own a home or have an outstanding mortgage.

Question 7

How will my customer be pre-qualified?

Accepted Answer

Ownify performs a soft credit check, verifies employment and income, and verifies identity.

Question 8

How many people can be on an Ownify application?

Accepted Answer

Up to two applicants can be included on an application; both incomes are considered in the pre-qualification.

Question 9

How long must my customer have been employed?

Accepted Answer

Customers must have been with their current employer for at least 90 days.

Question 10

Can bonuses be included in the income assessment?

Accepted Answer

Yes, Ownify considers bonuses within its income assessment.

Question 11

Can Ownify accept 1099 / self-employed income?

Accepted Answer

Yes. Ownify accepts 1099 and self-employed income, which is one of the program's biggest advantages over conventional underwriting.

Question 12

What credit score does Ownify require?

Accepted Answer

Ownify requires applicants to have a credit score of 680 or above.

Question 13

How often does underwriting need to be refreshed during the home search?

Accepted Answer

If the home search is still ongoing after 90 days, Ownify may need to re-run some checks.

Question 14

How much does pre-qualification cost the buyer?

Accepted Answer

Pre-qualification is free. To continue after pre-qualification, the customer signs the Participation Agreement and pays a $500 application fee.

Question 15

Does my customer need to find a home first before getting pre-qualified?

Accepted Answer

No — Ownify prefers customers get pre-qualified and review their budget before finding a home.

Question 16

How will my customer know what Ownify will cost each month?

Accepted Answer

An illustrative 5-year fixed payment schedule is provided as soon as a customer is pre-qualified, and a property-specific schedule is provided when a home is identified.

Question 17

What properties can my customer buy with Ownify?

Accepted Answer

Single-family homes listed on the local MLS in Ownify's active markets.

Question 18

Can my customer buy a new-build home?

Accepted Answer

Yes, if the new-build home is completed and listed for sale. Ownify does not currently make offers on homes under construction.

Question 19

What known issues will disqualify a home?

Accepted Answer

Ineligible conditions include homes greater than 100 years old, organic growth (mold), lead paint, unfinished renovations, and similar material defects.

Question 20

Are HOA properties allowed?

Accepted Answer

Yes. HOA properties are considered on a case-by-case basis.

Question 21

When is the customer committed to using Ownify?

Accepted Answer

Once an offer extended by Ownify is accepted by the seller, the customer is committed.

Question 22

Who owns the home — the customer or Ownify?

Accepted Answer

Title is held by an LLC formed specifically for the property. Both Ownify and the customer own membership interests in the LLC.

Question 23

Who pays for due diligence, earnest money and closing costs?

Accepted Answer

Ownify covers closing costs, due diligence, earnest money and any required repairs.

Question 24

When does the 2% down payment need to be sent to Ownify?

Accepted Answer

Ownify must receive the down payment before submitting an offer. Earlier is better.

Question 25

Can family or friends help with the 2% down payment?

Accepted Answer

Yes — family and friends can help with the down payment.

Question 26

Can the customer use a loan or credit card for the down payment?

Accepted Answer

No — the 2% down payment cannot come from a loan or credit card.

Question 27

Where is the 2% down payment held before purchase?

Accepted Answer

Funds are held by Folsom Street Property Management LLC, Ownify's property management arm, in a segregated bank account.

Question 28

How quickly can a customer make an offer after viewing a property?

Accepted Answer

Same day, provided the customer has already delivered the down payment.

Question 29

Who decides what inspections are required?

Accepted Answer

Each home gets a standard home inspection. Special inspections may be added based on agent or inspector feedback.

Question 30

Who pays for critical repairs identified in the inspection?

Accepted Answer

Ownify takes care of any critical repairs, pursuing seller concessions where possible.

Question 31

Is there a cap on due diligence and earnest money?

Accepted Answer

Yes — Ownify caps due diligence and earnest money at 10% of the purchase price.

Question 32

Who agrees to the offer that's submitted on the home?

Accepted Answer

Offers are agreed in cooperation with the agent.

Question 33

How quickly can Ownify close once an offer is accepted?

Accepted Answer

As an all-cash buyer, Ownify can close quickly — usually constrained only by the title search.

Question 34

Can I use my existing inspection and closing vendors?

Accepted Answer

Yes — Ownify takes the agent's advice on local vendors for inspections and closing.

Question 35

What happens to the 2% down payment if Ownify withdraws after inspection?

Accepted Answer

If Ownify withdraws from purchasing a home after inspection reports, the customer's 2% down payment is refunded.

Question 36

Does the seller need to do anything different at the closing table?

Accepted Answer

No — sellers experience a normal cash close.

Question 37

Who signs at the closing table?

Accepted Answer

Closing is digital and Ownify signs on behalf of the LLC that holds the home.

Question 38

Who negotiates with the seller during the closing process?

Accepted Answer

Ownify works with the agent to obtain the desired concessions from the seller.

Question 39

Can a customer purchase a home below their pre-qualified maximum?

Accepted Answer

Yes — customers can choose to buy under their maximum budget.

Question 40

Who is responsible for repairs?

Accepted Answer

The customer notifies Ownify of any issues. Ownify coordinates and pays for repairs as necessary.

Question 41

Who are the local vendors for repairs?

Accepted Answer

Ownify uses a network of local licensed professionals.

Question 42

What's the difference between a repair and a maintenance/improvement?

Accepted Answer

Repairs cover critical defects impacting habitability, safety, or the physical property — e.g., non-functioning HVAC, rotting deck, actively leaking roof. Maintenance and improvements are the customer's responsibility.

Question 43

When does the customer start paying Ownify?

Accepted Answer

Payments are due on the 1st of the calendar month following the purchase of the home.

Question 44

Who pays the property taxes?

Accepted Answer

Ownify takes care of property taxes.

Question 45

Who pays the insurance and what does it cover?

Accepted Answer

Ownify pays homeowner's insurance covering the property and structure. The customer organizes their own contents insurance.

Question 46

Who pays HOA fees?

Accepted Answer

HOA fees are property-specific and pass through as an incremental line on the customer's monthly payment.

Question 47

What happens if the customer stops paying Ownify?

Accepted Answer

The customer is in default. Ownify issues a notice to cure; if the position is not cured within the timeline, an eviction notice is served.

Question 48

What happens after 5 years with Ownify?

Accepted Answer

The customer can renew for another 5 years, buy out the remaining equity from Ownify (cash or mortgage), or move out and receive their accumulated equity minus a small relisting contribution.

Question 49

What if the customer needs to move out early?

Accepted Answer

Customers can move out at any time with notice. Ownify pays out the customer's equity at current market value, minus a relisting fee tied to indexed value.

Question 50

What if the customer wants to buy out Ownify with a mortgage or cash?

Accepted Answer

The customer can buy out Ownify at any point at the current market indexed value. In months 1–30 there's a 105% floor that steps down to 100% by month 60.

Question 51

What if home prices fall after the customer moves in?

Accepted Answer

The fixed monthly payment buys incrementally more equity. The customer can never be in negative equity because there's no loan secured against the home.

Question 52

What if home prices go up substantially?

Accepted Answer

Each monthly payment buys incrementally less equity, but the equity already accumulated is worth more.

Question 53

Can the customer renovate the home?

Accepted Answer

Yes. Significant work requires proper permits. The customer pays renovation costs and keeps any uplift in value attributable to the renovation.

Question 54

Can the customer sublet the home?

Accepted Answer

No. The home must be the customer's primary residence; subletting is not permitted.

Question 55

What tax forms does Ownify provide?

Accepted Answer

Schedule K-1s are issued during the first quarter of the calendar year.

Question 56

Who decides to sell the home if the customer moves out or defaults?

Accepted Answer

Once the customer has moved out, they are no longer party to the transaction. Ownify instructs the listing agent to put the home up for sale — and the original buying agent is offered first refusal.

Agent questions, answered

Partnering with Ownify

Customer eligibility & application

Property eligibility

Ownership & rights to the home

How homes are purchased with Ownify

Living in the home with Ownify

End of the 5-year term & moving out

Keep exploring

Ready to write your first Ownify offer?