HomeFundit - Crowd Funding for your down payment
What is HomeFundit?
HomeFundit is a crowd funding platform designed specifically for the down payment on a home. Home buyers get prequalified, share their story, and raise funds all through one platform.
How does it work?
Home buyer sets up an account on https://www.homefundit.com and then builds a campaign page with photos and videos to share their story.
Just like other mortgage financing programs, it starts with prequalification. Home buyer completes the on-line application (link above), determines the loan amount and establishes the minimum down payment with a loan officer and Fundraising Coach. Once prequalified, the home buyer is ready to share their campaign on social media networks and through direct messaging to their family and friends. The more networks they reach, the more potential the campaign has.
Buyers who complete home buyer counseling may be eligible for a 1% contribution toward the down payment or closing costs. Through HomeFundit, the home buyer connects with Housing Counselors and other housing professionals to help set themselves up for a sound financial future. When the buyer reaches the campaign goal, the funds will be ready to apply toward the new home purchase.
