DECLINING BALANCE CO-OWNERSHIP PROGRAM

The Declining Balance Co-ownership Program is designed to work smoothly within the practices of the conventional mortgage industry enabling our customers to adhere to their beliefs without being put at a disadvantage.

The Co-ownership Program eliminates the conventional borrower lender relationship. Instead, the consumer and Guidance form a partnership through the Co-ownership Program. Through the partnership, the consumer and Guidance become co-owners of the property. The consumer increases their ownership through affordable monthly payments to Guidance and ultimately aquires complete home ownership.

Monthly payments are made up of an acquisition payment and a utilization payment. The acquisition payment goes towards purchasing Guidance's share of ownership, thus increasing the consumer's share of ownership and decreasing Guidance's share of ownership. The utilization payment pays for the co-owners exclusive right to use of the property. The acquisition and utilization portions of the payments are re-allocated as the consumer increases their share of ownership. Our product is designed to simulate the amortization schedules in mortgage financing for income tax purposes.

The Co-ownership program and its products and services have been developed under the guidance of our distinguished independent Sharia Supervisory Board and meet all Federal and State regulatory guidelines.