What is the buy back price for my home?

The buy back price, also referred to as the option purchase price, is the home’s current fair market value (FMV).  The fair market value is based on a third party appraiser estimate or Upwardly’s proprietary software. If the fair market value is higher than the initial purchase price, Upwardly will split the home’s appreciation with the member. This provides members with more equity and a smaller amount to borrow on a mortgage. If the fair market value is less than the initial purchase price, then the option purchase price is the initial purchase price. For example,

Higher Fair Market Value
Initial Purchase Price: $200,000
Fair Market Value: $230,000
Option Purchase Price: $215,000

Lower Fair Market Value
Initial Purchase Price: $200,000
Fair Market Value: $190,000
Option Purchase Price: $200,000