Florida-based startup HomeFunded.com, is attempting to revolutionize the way people buy homes, through crowdfunding. HomeFunded.com allows potential home buyers the ability to raise a down payment to purchase a home in today’s heating up real estate market. Home buyers can create a down payment campaign and invite those in their social network to contribute and share the news of their upcoming home purchase to increase the likelihood of successfully reaching their down payment goal.
"We have a competitive housing market being dominated by private investors and hedge funds," said Aaron Mighty, founder of HomeFunded.com, "which is why a startup like HomeFunded.com is needed to even the playing field in the marketplace today."
HomeFunded.com allows users to raise a small or large down payment but the funds can be used solely for the purchase of a home. A successful down payment campaign can secure down payment funds for a home buyer in as little as seven days but the funds must be used to close on a home within 60 days of their down payment campaign closing otherwise the funds are returned to the contributors.
HomeFunded.com is backed by a collective of expert real estate professionals and was developed with the assistance of numerous loan officers and underwriters in the mortgage industry at Fortune 100 companies.
A mobile application is currently in the works allowing on the go home buyers to snap a picture of their favorite home while viewing with their Realtor and immediately launching a down payment campaign.
Edited by Gordana Davila