Tobias Harris

About the fund

The Tobias Harris Homeownership Initiative, domiciled in Michigan, provides shared appreciation mortgages to homebuyers in select Detroit neighborhoods, operating in partnership with the Michigan State Housing Development Authority and supported by institutional and individual investors. The fund employs a blended finance structure that combines real estate investment with homeownership enablement, offering borrowers an alternative to traditional financing while generating returns for investors through shared property appreciation. By targeting first-time and underserved homebuyers in Detroit, the fund seeks to expand access to affordable homeownership and build household wealth in communities experiencing housing affordability challenges. The fund is managed by Homium and demonstrates early traction, with multiple closings completed to date, positioning it within the emerging market of innovative mortgage and real estate products designed to advance equitable economic participation.