December 2017 Volume 43, Number 12 | |||||
Homebuyers Can Now Crowdfund Their Mortgage Down PaymentsFor many Americans, saving enough money for a down payment has become a major hurdle to buying a home. One lender claims to have found a solution to this problem. Privately-held mortgage banking firm CMG Financial has launched HomeFundMe — a pilot crowdfunding service that’s the first to receive approval from Fannie Mae and Freddie Mac.
To facilitate the crowdfunding process, HomeFundMe received approval from Fannie Mae and Freddie Mac to allow borrowers to accept money from a larger array of potential donors. There is no fee to use the service. However, homebuyers have to get pre-qualified for a loan. |
|
Homebuyers Rush to Riskier Mortgages As Home Prices Rise Amazon Ventures Into Real Estate With Hire a Realtor Service Digital Real Estate Platform Home61 Raises $4 Million Homebuyers Can Now Crowdfund Their Mortgage Down Payments Millennials Going Over Budget to Buy Homes National Flood Insurance Program Might Not Be Able to Fulfill Obligations to Homeowners San Francisco Most Over-valued Market in U.S. Trump Tax Reform Sparks Fears for California Realtors Weekly Mortgage Applications Stall Along With Rates and Home Sales 10 Reasons to Schedule a Seller Counseling Session | |||
|