The Millennial Approach to Home Owning.

Tired of renting but don't want a traditional mortgage? Struggling to pay off student loans? Chord's Progressive Ownership model is a solution.

How Chord Works.

1. We Buy Together.

With as little as a 2.5% deposit, choose your ideal home and how long you think you will stay (2-7 years). Chord buys the home for you and we become co-owners of the property. 

2. Build Your Equity.

You make one monthly payment. Each payment increases your share of the home. On the part that you don’t yet own, you pay rent to Chord. 

3. Stay Flexible.

You can choose to extend your stay. Otherwise, you can transfer the value of your share to another property, or cash out and use the money to pay bills, like student loans.

The Numbers.

$200,000 

Starter home in

Ravenswood,

Chicago, Il.

Regular Monthly Payment.

Low Down Payment and Faster Equity Building.

You build equity faster because more of your housing payment each month is going towards buying back ownership from Chord than you’d be repaying principal on a traditional mortgage.

Common Questions.

How large does my down payment need to be?

      2% - 5% based on how much money you feel comfortable putting down.

            For the same price as renting, we allow you to build wealth through the value of your home. And because Chord allows you to choose how long you want to stay, you can cash out quickly to pay off bills like student loans or pursue other activities.

                  This is a true partnership, so Chord will split the closing costs with you. And since we buy homes with a cash purchase, closing costs will be significantly reduced.

                        You get to decide how long you want to stay. A single arrangement lasts 2-7 years, but you can decide to extend or renew.

                              Like closing costs, the recurring costs of ownership will be split between Chord and you.

                                    Yes.

                                          Yes, you are the homeowner. If you choose to make any major renovations, we ask that you notify Chord. We can help pay for these renovations. After renovations are complete we will revalue the property to reflect these improvements.

                                                Currently, you won’t be able to deduct interest or property tax from your income tax. However, we are working to change this in the future.

                                                    You have a few options:
                                                    • Move out and transfer your share to another Chord property. If you choose this option, we will cover closing and transaction costs.
                                                    • You can also choose to cash out of the home. Chord will pay you cash for the value of your share of the home, minus transaction costs.
                                                    • Extend your stay and buy more of the home.
                                                    • Buy the remainder of the property with a traditional mortgage, using the share of the home you've already built as the down payment.

                                                        Chord will either sell the property or find a new occupant. At that time, you will receive cash for the equity you’ve built up minus any transaction costs incurred from the early exit.

                                                              If Chord goes out of business, you have the choice to stay in the home or not. If you choose to stay, you can choose to pay rent to Chord until we sell the home, or buy the home from us using a traditional mortgage. If you decide to rent, you can cash out your stake once we sell the home. If you decide to buy, you can use your current stake in the home as a down payment. If you choose to leave, Chord will cut you a check for the value of your stake in the home, minus transaction costs.

                                                                    Agreeing to partner with Chord means sharing in the price appreciation of your home. That means that if the value of the home were to go up, you split some of the profits with Chord. But it also means that if the value goes down, Chord shares the burden with you. Also, you get to stop throwing away your money on rent every month while maintaining the ability to move when necessary.

                                                                      Join the movement that's inventing progressive home ownership.