It’s like any other mortgage except there is no monthly payment. Yes, you read that right, no monthly payment. Rook partners with you to get you easy access to your equity in exchange for a portion of the future appreciation of your home. As your house appreciates, we both win. If your house depreciates, we both lose. We’re partners.
So it's a mortgage? Yes, with a twist. Here’s why. Since the real estate financing ecosystem is built around mortgages, we didn’t want to reinvent the wheel and be “disruptive” for the sake of the word. Instead we built a better wheel that offloads some of the burden of financing a home and or accessing equity. This is not a new exotic financial product to understand. It’s a mortgage. But one that partners with you to enable you to access your equity and diversify into other investments.