Orinda Union School District March 12, 2018
Presentation 10 min Why down payment assistance? How does it work? Agenda Who is Landed? How do we get started? Questions 10 min
Educators are an essential part of every community. But for educators in expensive communities, buying a home near work can be challenging. That’s where Landed comes in.
Example School Districts with Active Programs Active Programs Burlingame School District School Districts Campbell Union High School District Emery Unified School District Landed is currently working Evergreen School District with 40 school districts Larkspur-Corte Madera School District Los Altos Elementary School District throughout California Milpitas Unified School District Mountain View-Los Altos High School District Ravenswood School District Redondo Beach Unified School District Redwood City School District Reed School District San Mateo-Foster City School District San Mateo Union High School District Santa Cruz City Schools Sequoia Union High School District Sunnyvale School District West Contra Costa Unified School District Woodside Elementary School District
Sample Purchases Invested $61,589 on $615,888 Purchased: Sep 2017 Invested $120,000 on $1,100,000 Carol + Fidel Purchased: Aug 2017 Married school teachers on the Invested $120,000 on $1,100,000 peninsula Purchased: Sep 2017 Purchased: Aug 2017 Invested $120,000 on $1,200,000 Purchased: Sep 2017 Income: $220,000 Invested $120,000 on $1,200,000 Savings: $150,000 Purchased: Sep 2017 Credit: Super-Prime Invested $107,500 on $1,068,500 Purchase Price: $1,200,000 Purchased: Aug 2017 Home Type: Single-Family Invested $88,580 on $885,800 Down Payment: $120,000 Purchased: Aug 2017 Landed Support: $120,000* Mortgage: $960,000 Stanford Credit Union Invested $88,580 on $885,800 Purchased: Aug 2017 *This money came from Chan Zuckerberg investment pool. On sale, they will get 25% of any price increase above $1.2M plus the original $120K
Meet the Sara and Isaac.
Landed co-invests with educators and staff at schools to buy homes. Here’s how it works.
Here’s how it works. $800,000 Home $80,000 $80,000 $640,000 10% Educator 10% Landed 80% Mortgage Down Payment Down Payment
Power of a 20%+ Down Payment Don’t Have to Pay Smaller Mortgage Insurance Mortgage
Not a loan.
Not a loan. A shared investment.
No monthly payments.
Original Investment
Original Investment + 25% Appreciation
Original Investment + 25% Appreciation
Original Investment + 25% Depreciation
Original Investment + 25% Depreciation
Customers choose when to exit the partnership and pay the Landed Fund back. Anytime at or before 30 years.
Participating X Homebuyer Partner Lenders No Fees Partner Real Education Estate Agents
Landed’s team has experience originating these partnerships Legal Support: Jesse Vaughan - Investing Jonathan Asmis -CEO Alex Lofton –Growth Key Backers: Jess Zhao -Customers Ian Magruder -Partnerships Emily Eshman -Customers Nikki Lowy -Partnerships Key Advisors Katherine August-deWilde DaveSterlitz Carol Galante Former President Originated over 500 similar UC Berkeley Terner Center First RepublicBank investments for hedgefunds for Housing Innovation
Landed is the ‘Bank of Mom and Dad’ for those without rich parents. CarolGalante Former Federal Housing Commissioner (2009-2014) Faculty Dir., Terner Center - UC Berkeley
Bringing Landed to OUSD: What’s Next? Landed has partnered Tell Your Staff Host an info with impact investors to session establish a fund (no district resources)
Eligibility Up to $120k in down For any type of primary residence in an eligible area payment support For teachers and staff who have worked at a partner district for the last two Must qualify for a years. primary mortgage You commit to staying for another two years.
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