Is PRIMARQ like a mortgage lender?
Mortgage lenders provide loans against the value of your property, which typically require a monthly payment, incur interest charges, and are secured by a trust deed. PRIMARQ is a market system which facilitates equity sharing transactions, whereby investors bid on owning a share of the home, seeking to benefit from the future appreciation. There are no monthly payments or security for the proceeds. • Is a PRIMARQ Agreement a reverse mortgage? No A reverse mortgage is a financing tool (specifically, a loan) which enable seniors to access funds against the value of their home over a period of time. The interest is capitalized so that no payments are required. Upon sale, like other mortgage products, the reverse mortgage needs to be paid off in full before any equity is distributed to the owner. PRIMARQ transactions, on the other hand, entail the sale of a percentage of the equity in the home. It is not a loan, does not accrue any interest, and, upon sale, all equity holders (you and the
