Here to help

General

What makes this different from conventional home buying?

Conventional home buying is designed for a person, and sometimes a co-signer, to purchase a home by taking out a single mortgage, or home loan, to cover the entire cost of the home.

Through SocialEquity a home is fairly divided (or ‘fractionalized’ via a process called ‘fractionalization’) between members of a SocialLiving buying group into Member Living Units (MLU’s), and the loan payment is then fairly divided between members of a group into a Coffee Home Loan per member.

The Coffee Home Loan is also designed to be easily-exchangable to allow for greater homeowner mobility. What this means is, as the SocialEquity community grows in addition to buying an MLU, a member can also swap their MLU for another MLU in the network, and in that exchange take their equity with them to the new place while they keep paying down their original Coffee Home Loan.

Essentially, the Coffee Home Loan is what makes it possible for a member to purchase part of a home instead of the whole home… and allows homeownership to be more mobile than ever before.

How do you divide the ownership of a home?

We use a process we call fractionalization that is performed by a HomeX Inspector. Each area of the home is measured and assigned to what we call Member Living Units (MLU’s) — essentially a bedroom, closet, bathroom, and other individually owned areas. Our app then applies a formula to calculate the percentage of ownership for each Member Living Unit, which is then applied to the Coffee Home Loan.

Can I rent my room out on airbnb, use it as investment?

The main intention of this service is to provide primary residence for SocialLiving group members.

What happens if there's an ongoing problem with one of my housemates?

We have people to support with conflict in the homes, and programs and processes to help. Reach out to us as soon as you are aware there is a real problem.

If it gets to the point where a homemate’s lifestyle needs and preferences no longer align with what was established by everyone in the ‘SocialLiving Agreements’ when the group formed, we have supportive ways of finding the person an alternative and appropriate fit for them, and filling the MLU with a better-aligned person — in a way that is equitable for everyone.

What happens if I or one of my roommates can’t pay?

We have programs and processes to help. Reach out to us as soon as you are aware of this potential. If a member has had a significant event and is unlikely to be able to pay for a period of time, they may be eligible to receive financial support from our Community Fund.

When is Social Equity going to be available in my city?

We are launching our pilot in Raleigh, NC as we prepare our platform to scale across the United States and then worldwide. We will announce the upcoming launches per city as we go live. Subscribe to our mailing list to get notified as we launch.

Membership Application

Why do I need to do an identity check?

We take the security of all our members very seriously, and it’s important for us to create a safe homeownership community. We perform an identity check on every member because integrity matters and especially when it comes to investing in a property with other people, and so we ask that all members use their real names and validate they are who they say they are, with a simple identity check. 

Why are you doing a background check?

We endeavor to create a safe place for people to connect and share ownership of a home. To improve the probability of safety and security we ensure that none of our members have a serious criminal record by performing a background check on every person who applies to SocialEquity.

What happens if I have a minor offense on my record?

No biggie. We understand that life happens and sometimes we make mistakes that are not of a serious or violent nature. In this scenario we have staff on hand to assist you. Minor offenses, if shared with your group and agreed by the group to be acceptable can be permitted. Please reach out to our help desk if this applies to you.

Will the credit check show on my credit report?

No.

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