Always wanted to become a real estate investor? Then, Headway NOVA is right up your alley. And with the recent 1.5.0 update adding installment plans, investing in real estate via tokens became even more accessible! Learn what you need to open an interest-free installment plan with NOVA and how to manage it in this guide.

What are 0% investment plans, and how do they work?

To make tokenized real estate even more affordable and flexible, Headway NOVA developed interest-free installment plans. This means that if you want to buy NOVA tokens, you don’t have to pay the entire amount right away. Instead, we offer two payment plans depending on your needs:

  • 50/50. This plan divides your payment into two equal portions. The first half is paid upfront, and the second – when the property becomes fully funded. This plan is a great way for those who want to secure their share of brand-new projects at the early stages.
  • Four-part payment plan. In this case, your payment is divided into four equal portions. The first one is paid right away, and the rest are spread over the next three months (90 days). By using this plan, you can secure your share in an available project and even receive rental dividends while still paying off your plan.

Regardless of what you choose, both plans are completely interest-free. You will not have to pay any extra fees – the process is crystal clear. 

How to use NOVA’s installment plans

Here’s how you can buy real estate tokens using NOVA’s installment plans:

  1. Make sure your account is verified.
  2. Navigate to the non-funded property you want to invest in.
  3. Select the number of tokens you wish to buy. Note that to qualify for any installment plan, you must select ten or more tokens.
  4. Toggle the Free installment plan switch and tap Continue.
  5. You will be prompted to choose the installment plan you want to use. Select one of the options and tap Continue.
  6. The tokens will be added to your cart. If you want to change the number of tokens, select a different plan, or opt out of installments, you can always do it in the cart or during payment selection.
  7. Proceed to make your initial installment payment using the method that suits you best.

Once you make your initial payment, the tokens will be instantly added to your portfolio. You can relax until your next payment!

Are there any limitations?

Before you decide to use an installment plan, here are a few limitations you need to consider:

✅ You can only pay in installments if you buy ten or more tokens in one property.
✅ Only tokens from available, non-funded properties can be bought via an installment plan.
✅ You need to verify your account to open an installment plan.
✅ You cannot sell or transfer tokens bought with an installment plan until you make the full payment.
✅ NOVA doesn’t give you an opportunity to manually cancel your installments. Contact our support at [email protected] if you need any guidance about your plan.

How to make installment payments

After the initial payment, you will have one or three outstanding payments ahead of you. Here’s what you need to know.

All installment payments must be approved by you

NOVA doesn’t automatically withdraw your payments from your NOVA Wallet. Instead, you need to open the app and pay for it manually. This ensures transparency and helps you stay aware of all operations on your account.

Consult your installment calendar to make payments on time

You can always check your payment calendar to see when it’s time to make a payment. If you’ve chosen the 50/50 plan, we will send you push notifications when your property is funded. But please make sure that push notifications for Headway NOVA are enabled in your phone’s settings.

See installment details in the Finances

Your active installment plan will be displayed in the Finances tab. To check all the information, find your installment plan and tap Details. Here, you will find the total price of your order, the remaining installment balance, the payment calendar, and when your payment is due. This is also where you make your installment payments according to or ahead of your schedule.

You can also pay off the remaining portions of your plan at any time. To do this, toggle the Pay all amount and close installment switch at the bottom of your screen and tap the Pay all button. 

That way, your investment will become fully paid off, and all limitations listed above will be lifted from your account. This means you can transfer your tokens to your personal crypto wallet and sell them as hot tokens if the project is already funded.

What happens if I don’t pay on time?

Sometimes, life comes in the way and we forget to do something we intended to do. And that’s ok! This is why NOVA gives you 14 more days to pay off your overdue installment. However, for each day of delay, you will incur a 1% late fee, calculated based on the overdue payment.

So, if your installment payment is $125 and you delay it for 4 days, you need to pay
$125 + ($125 * 1% * 4) = $130

If you fail to make the payment within the 14-day overdue period, your installment plan will be cancelled. Your original investment will be recalculated based on the amount you’ve paid, minus any late fees. The remaining tokens will stay in your Portfolio, and any surplus cash will be credited to your NOVA Wallet.

Let’s look at the following example.

You decide to buy 20 tokens in MBR 13 for $25 per token. You decide to open a 50/50 installment plan, and make your initial payment – $250. Some time later, the property is funded, so you’re prompted to make the second payment.

But you fail to do so. After 14 days, your late fee amount comes to 

$250 * 1% * 14 = $35

NOVA closes your installment plan, but your investment doesn’t disappear. Instead, we recalculate it by taking out the total late fee from the amount you’ve paid already:

$250 - $35 = $215

This is the sum left over after your installment is closed. Since one token costs $25, your recalculated investment will include 

$215 / $25 = 8 tokens + $15

In total, out of the initial 20 tokens, you will own 8. The leftover $15 will be returned to your NOVA Wallet.

And even if you have already received dividends, which is possible in 4-part payment plans, we won’t deduct them from you.

Invest in real estate now

Now that you know everything about NOVA’s interest-free installment plans, you’re ready to take your first step into the world of tokenized real estate. Download Headway NOVA, buy your first tokens, and enjoy consistent profits from one of the fastest-growing property markets in the world! 

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