Questions about Tufa.

Tufa is a residential fund platform. Its funds will be offered under Regulation A and will file audited reports with the SEC. Tufa Home Funds is its family of funds. A family commits capital to Tufa First Home Fund. The capital is called when a designated buyer's purchase closes, shares are issued, and the fund places an appreciation-based second lien on the home alongside a standard first mortgage. The buyer owns the home outright. The family holds fund shares.

A gift leaves the family's hands permanently and gives the family no continued participation in what the capital helped buy. With Tufa, the capital stays the family's until a purchase, and is called only when that purchase closes. Shares are issued at closing, designed to provide diversified residential exposure across many homes, rather than a stake in the one home.

A single commitment of family capital produces two results at purchase. The buyer gets a home and owns it outright. The family holds shares in a fund. The support and the investment are the same act, viewed from two sides.

It stays in your account, in your name. It can be held in cash, in a money market fund, in an S&P 500 index fund, or in a Tufa portfolio designed to track residential real estate. You choose; nothing is invested without your instruction.

If the purchase does not close within 90 days, the capital returns to your account. You were never invested in the fund.

The buyer. The buyer qualifies independently and owns the home outright. Only the buyer, along with any co-borrower on their mortgage, is on title.

The fund receives its share when the home sells or when the homeowner chooses to settle early. A refinance to lower the rate leaves the Shared Appreciation Agreement in place. The Agreement also settles if the first mortgage is paid off without the Agreement staying in place, including a cash-out refinance beyond the program limit, or after an uncured default described in the Agreement.

No. The appreciation-based second is held by the fund, not by the family. The family holds fund shares, not a claim on the home.

No. The family holds shares in the fund. The fund will hold a second lien on the home as a portfolio asset. Neither is ownership of the home.

Shares in the fund, representing a pro rata interest in the portfolio of appreciation-based second liens it is designed to hold. Not an interest in any specific home. More detail is on the fund page.

Tax treatment depends on your own circumstances. Tufa does not provide tax advice. Please consult your own tax advisor about how an investment in the Fund would affect you.

A management fee of 0.75% per year of net asset value, and transaction costs of up to 1.5% per purchase, borne by contributing families. No carried interest, no performance fee, no preferred return. The fund page has the full detail.

After a one-year holding period, a shareholder may request a repurchase of some or all shares. Requests are considered quarterly, and a request may be withdrawn up to five business days before quarter end. The fund repurchases at net asset value per share as of quarter end and pays within 21 days. Repurchases are limited to 5 percent of shares outstanding in any twelve months. A deduction of 2 percent of NAV applies to shares held under three years, and 1 percent to shares held three to five years. There is no secondary market for the shares. The fund page has the full terms. The program may be limited, suspended or ended at any time, and the fund may be unable to fill requests in any given quarter.

Lenders that have agreed to the fund’s investment alongside their first mortgage. How lenders participate is described on the lenders page.

Parents and other family members who want to support a designated buyer's future home purchase, and who want the capital to stay theirs and stay invested until that purchase.

At launch, the program covers single-unit primary residences: a house, a townhome or a condo.

A buyer who has not held an ownership interest in a residential property in the three years before the purchase. This follows the definition used by Fannie Mae. The buyer's lender confirms it on the loan application.

Not yet. A Reg A+ Form 1-A filing is in progress and the offering is not yet qualified. Request early access to be notified.

Tax treatment depends on your own circumstances. Tufa does not provide tax advice. Please consult your own tax advisor about how an investment in the Fund would affect you.

Tax treatment depends on your own circumstances. Tufa does not provide tax advice. Please consult your own tax advisor about how an investment in the Fund would affect you.