Is it time to ditch the mortgage?

The world has changed drastically in the last fifty years, but one thing has remained unchanged: how people purchase their homes.

The mortgage has been a staple of the American home buying process for our entire lives and our parents’ lives, and our grand-parents’ lives. But mortgages are showing their age. In an era where we have experiences designed around and for us, the mortgage falls short.  

That’s because mortgages are built by lenders and underwriters.

It’s a transaction. The home buyers’ experience is an afterthought. Anyone who has used a mortgage to buy a home knows this all too well. There are unclear timelines, unexpected costs, mountains of paperwork - it’s not exactly a delightful experience as you prepare to move into your next home.

On top of that, it is not a great financial decision for many households. It can lock you in with high costs of ownership and you - the buyers - are taking on the majority of the financial risk. Luckily, we are starting to have more options, and for some, it may be time to ditch the mortgage. Co-ownership arrangements, rent-to-own concepts, shared-equity models, and a wealth of other innovations are emerging out of a need to improve different parts of our home buying experience.

At Acre, we’ve been there, too.

We’ve been priced out of our communities. We’ve had our mortgages bought and sold from under us. We’ve seen our equity eaten away by transaction fees. We thought there has to be a better way, but there wasn’t. So we are building a better end-to-end homeownership experience by enhancing the flexibility, savings, and choices for modern home owners. From buying the home, to making it your own, all the way through your next move, we’re building Acre’s unique shared equity model for you. To help you get into a home you love, while building wealth, reducing your risk, and expanding your options so you can find your place - fast, easy and in a way that works for you.

Our first products are designed to make more financial sense for homeowners looking for shorter-term stays than the traditional mortgage.

Acre is a great option to get into a home quickly and confidently, without the need for a long mortgage underwriting process. With Acre, you maintain the flexibility of conventional renting agreements such as shorter terms and maintenance support, while financially benefiting from home appreciation and significantly limiting your downside because there is no need for debt.  Buying with Acre is buying alongside a savvy partner that cares about the investment they are making in your home as much as you do.  

Learn more about How Acre Works and talk to one of our team members to find out if Acre is a better fit for you than a mortgage.