Browse to find answers to commonly asked questions.
The Nada Debit card is the first and only debit card designed to reward you for owning real estate. Homeowners can fund the Nada debit card using their home equity.
Nada is a financial technology company and is not a bank. Banking services provided by Nada's banking partners.
Absolutely. Your Nada account is insured up to $250,000 through our banking partners.
The Nada card is meant for anyone who wants to build their real estate wealth – homeowner, investor, everyone. It is a Visa debit card that can be used anywhere Visa is accepted.
Nope. None. Nada. Zilch—zero is our magic number. The Nada card has zero overdraft fees, ATM fees, transfer fees, or minimum balance fees.
a. Cityfunds are an index-like fund that provides targeted exposure to a single city’s residential real estate market. Cityfunds are available to all investors, unlike most real estate funds which are only available to private investors. Now anyone who wants to invest in Austin, Miami, or New York real estate for example will have the opportunity to do so with Cityfunds.
b. We designed Cityfunds from the successful transformation we have seen from actively managed mutual funds to passively managed index-based exchange traded funds (ETFs). Many ETFs enable investors to make very targeted investment decisions within a specific sector, geography, or risk profile. We wanted to provide investors this type of targeted exposure to a specific city through a diversified portfolio of residential real estate assets.
Cityfunds only invest in single family residential real estate using two strategies: (1) acquisitions of single-family rental homes; and (2) fractional investments in owner-occupied homes via Nada’s Homeshares product. Nada leverages its boots-on-the-ground network of licensed real estate agents and in-house marketing channels to source acquisitions. If you are interested in partnering with Nada to source acquisitions, email us at email@example.com.
We have partnered with North Capital to bring Cityfunds to a secondary trading platform. Soon, you will be able to trade your shares on the Nada Platform
Everyone can invest in a Cityfund for as little as $100. Most real estate investments are not accessible to everyone due to the requirement for investors to be accredited, charging high fees, and requiring high minimum investment amounts.
Regulation A and D offerings are final sale. You may not be able to cancel a commitment for one of these investment opportunities under any circumstances. Please review the relevant offering materials and subscription documentation for more information. Email firstname.lastname@example.org for support.
You can own a piece of real estate for as little as $100.
Cityfunds Manager, LLC. which is a joint venture between Nada Asset Management, LLC and Compound Asset Management, LLC.
We have 4 Cityfunds live right now – Austin TX, Dallas TX, Miami FL, Tampa FL. Cityfunds will scale across the country and eventually abroad, providing even more opportunities for investors around the world to take part in owning a piece of the cities they love.
Cityfunds are designed to provide returns that are related to the home-price appreciation of a specific market. Based on recent historical and assumed continuing home-price appreciation, we expect both our single-family rental acquisitions as well as our Homeshare investments to generate annual internal rates of return “IRR” of between 12% and 16% over a 7-year period.
Yes! In the spirit of full transparency, Nada will be rolling out a Portfolio Manager application which is fully integrated with each Cityfund and designed to provide investors with an engaging and seamless experience. Investors receive alerts for new acquisitions, Cityfund valuation updates, Cityfund index updates, and all the current news on all things Cityfunds. Each investor will gain access to the Portfolio Manager app for free.
Our platform allows only US based investors for now. We will keep you updated if we expand to international investors
Creating a new mortgage to replace the previous financing, typically with more favorable terms or new borrowers added/subtracted.
Typical scenarios where you may consider refinancing your mortgage:
▪ Rates are at least .25 lower than when you last financed
▪ Your fico score has improved 20+ points, or your income has increased 10%
▪ Your home has significantly appreciated in market value
▪ Home improvements such as a pool or solar need to be installed
▪ When a life event may impact cash flow, such as a birth, college acceptance, planning to open a new business, marriage, retirement or death in the family.
Nada Loans offers cash-out refinance loans as well as rate-and-term refinance loans. If you’re looking to lock in more favorable loan terms, you might want to explore rate-and-term refinancing. This kind of refinance can help you secure financial benefits such as reducing the amount of your monthly payments, changing the type of loan you currently have, or getting rid of private mortgage insurance (PMI). If you’re looking to access quick cash, cash-out refinancing can help you convert your home equity to capital. Get pre-approved in as little as 3 minutes to see what options are available to you.
When you refinance your mortgage, you’ll encounter many of the same closing costs that you had to pay when you finalized your original loan. These costs can include third-party fees, insurance, escrow and taxes. You should review your Loan Estimate and your Closing Disclosure for a complete list. Usually, these costs add up to about 2-5% of the loan amount. Ready to refinance? Check out rates and see which terms you qualify for today.
Depending on your situation one of these should apply:
▪ Lower rate
▪ Shorter term
▪ Lower payment
▪ Debt consolidation
▪ Home improvement
▪ Cash in hand
▪ Change of title ownership (Death, Divorce, Marriage)
A cash-out refinance is when a mortgage is refinanced for more than the outstanding balance—converting home equity into cash. Cash-out refinancing can be a great way to free up money for outstanding debt or to make an investment in home improvements.
Common ways you could use a cash-out refinance
▪ Home renovation
▪ Debt consolidation
▪ Student loans, tuition fees and college funds
▪ Retirement funds
▪ Investing in new properties
▪ Buyout a co-borrower
In most cases you do need to have your house appraised in order torefinance. However, depending on the circumstances, an appraisal may not be required. Consult your Nada Equity Specialist to find out if an appraisal is necessary before you start the refinancing process.
The typical American family has 68% of their total wealth trapped in their home equity, twice as much as they have in their retirement and savings accounts combined. Historically, the only option for homeowners to access their equity was to either sell their home (pay ridiculous fees) and move out or take out a new loan which adds more debt and requires monthly payments.
Nada’s Homeshares product unlocks a new option for homeowners to trade some of their home equity for cash, without having to move out or take on more debt – requiring monthly payments. Homeshares is not a debt, it is a co-investment in your home, Nada becomes your partner and shares in the upside or the downside of your home value over time. Nada is repaid when you sell, refinance your mortgage, or choose to repay at some time prior to the end of the 10-year term.
To learn more about Homeshares pricing and repayment scenarios, visit our Homeshares calculator tool
Nada is currently making investments up to $40,000 in owner-occupied single family homes. Our investment size is the lesser of either (i) 30% of your home equity, (ii) 10% of your home value, or (iii) $40,000.
That’s correct, there are no monthly payments, no accrued interest, and no added debt withHomeshares. When you agree to a Nada Homeshare investment you receive our cash payment upfront, in exchange Nada becomes a co-investor in your home.
Simply fill out this form and one of our equity specialists will be in touch
Nada receives funding for our Homeshare investments from a variety of investors that share in our vision to unlock real estate wealth for everyone. One of our primary sources of funding comes from our real estate investment funds Cityfunds, where we are making it possible for anyone to invest in and own a piece of the cities they love. Through Cityfunds, investors and homeowners are aligned and you share in the benefits as your home appreciates.
Nada has designed the Homeshare qualification process to be simple, stress-free, and without any financial obligation to you or impact to your credit. We evaluate information about you andinformation about your home, such as:
• Proof of identification
• Proof of homeownership and current mortgage
• Verification of employment
• Soft credit check to evaluate your payment history (with no impact to your credit score)
• Proof of homeowners insurance
• Record of property taxes
• Property inspection
No. A Homeshare is not a debt and does not show up on your credit report as a new debt. You receive cash upfront when you agree to a Nada Homeshare investment in exchange Nada receives an option to share in the upside or the downside of your home value over time.
Nada does not dictate how you use your funds. Use your unlocked home equity funds for whatever you need—pay down debt, renovate, or invest in your future.
You do. You continue to own your home, control your property, and enjoy all of the benefits of being a homeowner. Nada is not considered an owner and does not have rights of occupancy—instead we are an investor.
Yes. Nada’s Homeshare investments are complementary to traditional mortgage loans. It is unlikely your existing mortgage provider will have any issues with Nada’s investment. Additionally, Nada will fully review your existing mortgage documents and terms to ensure there are no issues during the application process.
No. Nada is paid by our investors who fund our Homeshares investment product and we are only paid once a Homeshare investment has been fully closed. There are additional third-party processing fees that may be deducted from your cash investment amount as part of the closing process. These fees vary based on the complexity, location, and investment size; however, they generally include:
• Title and Escrow: $75 - $600
• Property Inspection: $450 - $550
• Home Valuation (AVM): $10 - $50
• Notary fee: $50 - $100
• Recordation fees: $25 - $100 (charged on a state or county basis)
• Document preparation fee: $50 - $100
Any third-party processing fees will be fully disclosed prior to closing.