Customer Scenarios
These are hypothetical examples of how a customer could use Ownly
Large Unexpected Expense
Alex
- Home Value $550K
- Home Equity $150K
- Ownly Equity Line $15K
Alex’s roof is damaged in a storm. Insurance covers part of it, but he still needs $12,000 quickly. A personal loan would take time and come with high interest. A home equity loan requires paperwork and closing costs.
Alex uses Ownly to cover the expense immediately. He doesn’t have to decide upfront how fast to pay it back. Over the next few months, he buys back the equity as his budget allows.
Intentional Splurge / Lifestyle Upgrade
Maria
- Home Value $875K
- Home Equity $650K
- Ownly Equity Line $35K
Maria wants to take her family on a once-in-a-lifetime trip that will cost $15,000. She could put it on a credit card, but hates the idea of carrying interest. She could pay cash, but prefers to keep liquidity.
Maria uses Ownly to fund the trip, then buys back the equity once her annual bonus comes in. She treats Ownly as a short-term bridge rather than long-term debt.
Paying Off High-Interest Credit Card Debt
Chris
- Home Value $350K
- Home Equity $200K
- Ownly Equity Line $20K
Chris has built up credit card debt over a few years due to travel, home repairs, life stuff. He’s making the minimum payments, but most of his money is going toward interest.
Instead of continuing to carry compounding credit card interest, Chris uses Ownly to pay off $8,000 of his card balance. That amount is recorded as a small percentage of his home’s equity.
Chris decides he doesn't want to buy back the equity right now. That might change in the future but if not, that's ok. Ownly will take that percentage of his home's equity when he eventually sells his home.
Income Volatility / Self-Employed User
Jamie
- Home Value $650K
- Home Equity $75K
- Ownly Equity Line $7.5K
Jamie is self-employed and earns well, but income is uneven. Some months are great, others are tight. She uses Ownly to smooth spending during slower months and buys back the equity when invoices are paid.