How co-owning a home with Neeyah works

Co-owning a home with Neeyah means we buy it together and you buy us out over time, at your own pace. Here's how each part works.

Buying the home together

You choose the home. You put in at least 20%, and Neeyah Fund, backed by investors from our community, buys the rest. Both of us are on the title. There's no loan and no interest.

Rent on our share only

You live in the home and pay rent only on the part we own. It's your home to live in, so renting it out or subletting isn't allowed. If you own 20%, you pay rent on our 80%. As your share grows, your rent goes down.

How rent and home value are reviewed each year

Once a year, around the anniversary of your purchase, we review two things using public data:

  • Home value. We use the Federal Housing Finance Agency's house price index for your metro area and apply its change over the past year to your home's value, capped at 5% growth a year. If home values in your area fall, your home's value falls too. That's how we share in losses, not just gains.
  • Rent. We combine HUD's Fair Market Rent for your ZIP code and number of bedrooms with rent inflation for your metro area from the Bureau of Labor Statistics, giving more weight to the local HUD figure. Your rent changes by that amount, capped at 5% a year. If the data shows rents falling, your rent goes down.

Rent isn't tied to interest rates.

Buying more of the home

You can buy more of the home whenever you're ready, at its most recently reviewed value. There's no schedule you have to keep to and no penalty for buying faster. You can stay at your starting share for as long as you like.

Who pays for what

We share the big costs of owning a home by ownership: property tax, home insurance and significant repairs and maintenance. If you own 25%, we pay 75% of those costs.

Selling

You decide if and when to sell. When the home sells, the proceeds are split by ownership, whether the price is above or below what we paid.

What we don't do

  • No late fees and no foreclosure.
  • No selling your home or contract to Fannie Mae or Freddie Mac. Every home is owned by the family who lives in it and by Neeyah Fund.

Owning it outright

Once you own 100%, there's no more rent. The home is fully yours.

Is it halal?

Our Shariah advisor, Shaykh Umer Khan, confirmed the model in a compliance letter and reviews it every year, and the Assembly of Muslim Jurists of America ruled it permissible, not just "permissible in need". See the AMJA fatwa and halal finance, back to basics.

The waitlist

Because we raise money directly from investors instead of borrowing from banks, there's a waitlist. We co-own homes in 24 states, focus on a set of priority markets, and keep expanding into as many others as we can.