A housing equity partnership (HEP) is a partnership in ownership of (equity in) a house. Typically the ownership is split between the resident and some organization or corporation, often a financial institution, with the resident owning at least half of the dwelling. When the house is sold, the institution will receive its share of the selling price. These partnerships were championed by economist Andrew Caplin in the late 1990s and are currently being put into practice in various communities.
The idea behind HEPs is that they are a way for people to own their homes who otherwise would be unable to purchase a house without a heavy mortgage.
Forming a housing equity partnerships is sometimes called equity sharing, since the equity in the house is shared.