My daughter, ErinBates, a millennial and mortgage mover, was over this weekend for dinner and going on and on about a new platform her company built. I was very intrigued so I asked her to write us a little guest blog about it.
Without further ado:
Yes, over at my company, CMG Financial, we sure are excited about a new platform called HomeFundMe, the 1st and only agency (FNMA) approved crowdfunding platform for down payments.
((Think GoFundMe for homes))
What if your neice was getting married and instead of registering for towels and dishes, her and her future hubby registered for a HOME!? Would you be inclined to donate? HomeFundMe allows you to visit your neice's personalized campaign page, linked to FaceBook and created in conjunction with our fundraising coaches, to gift money towards a house.
Sample (Real Life) Page:
- Unlike traditional loan/down payment gifts these funds DO NOT have to be sourced or seasoned.
- You can chose if you would like the funds back if they DO NOT buy a house within 1 year, or you can choose to let them have the funds either way. (conditional donations)
Your neice can share her campaign with her friends, family, spiritual community, employer & colleagues, and beyond (who all do you know that would help someone buy a home?)
Whether it's $10 or $1000, every gift ads up!
CMG Financial, as the lender, can (and will) contribute to the campaign and Realtors can as well.
Though anyone can use this program we are betting that a big portion of users will be
Millennials and GenXers (my people!).
In 2016 34% of home buyers were Millennials while 28% were GenXers
and in a recent NAR survey they stated that their biggest obstacle to home ownership
is coming up with $ for the down payment. Enter stage right: HomeFundMe!
So, Realtors, what do you think?
Will you find this to be a useful tool for your clients?
As of right now, CMG Financial is the ONLY lender in the nation who has this FNMA approved product. To chat more about it, feel free to reach out to me. :)
You can find me here in the Rain at: http://activerain.com/profile/ebates1204
or get in touch with my Mom (@BelindaSpillman) and she'll connect us!
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