MORTGAGE BLOGBlog posted On June 30, 2022
Did you know that saving for a down payment is one of the biggest obstacles potential homeowners face? Many buyers who can afford a mortgage struggle to buy a home because of the upfront costs like a down payment. For some, saving for a down payment takes years – especially when home prices are high. With HomeFundIt™, home buyers can buy their home sooner with a larger down payment.
How it Works
This easy-to-use online platform allows home buyers to build a customized contribution campaign, raise down payment gifts, and accept contributions from anyone with a credit or debit card. Unlike traditional down payment gifting, HomeFundIt™ has no fees or offline paperwork.
Every gift that you raise goes directly toward your down payment savings, and the contributions that you raise don’t expire, giving you plenty of time to find the perfect home.
Getting Started
$2,000 Closing Cost Grant
Eligible first-time buyers can earn up to $2,000 toward closing costs when they complete a home buyer education course or pre-purchase counseling before the purchase contract is signed. Then, every gift earns a 2-to-1 match, up to the lesser of $2,000 or 1% of the purchase price*. Every time someone shares your campaign through your campaign page on social media, you earn $10 toward your down payment
UpIt™ Rebate Pledges
Supporters can shop from your campaign page at over 1,000 participating retailers to earn rebate pledges that average at 7.5%! In other words, whenever friends, family, or anyone else in your network uses your campaign page to shop with participating retailers, a percentage of each purchase will be pledged toward your down payment goal.
Saving for a down payment doesn’t have to be hard. HomeFundIt™ makes it easy. Get started today or contact us to learn more!
Did you know that saving for a down payment is one of the biggest obstacles potential homeowners face? Many buyers who can afford a mortgage struggle to buy a home because of the upfront costs like a down payment. For some, saving for a down payment takes years – especially when home prices are high. With HomeFundIt™, home buyers can buy their home sooner with a larger down payment.
How it Works
This easy-to-use online platform allows home buyers to build a customized contribution campaign, raise down payment gifts online, and accept contributions from anyone of the credit or debit card. Unlike traditional down payment gifting, HomeFundIt™ has no fees or offline paperwork.
Every gift that you raise goes directly toward your down payment savings, and the contributions that you raise don’t expire, giving you plenty of time to find the perfect home.
Getting Started
$2,000 Closing Cost Grant
Eligible first-time buyers can earn up to $2,000 toward closing costs when they complete a home buyer education course or pre-purchase counseling before the purchase contract is signed. Then, every gift earns a 2-to-1 match, up to the lesser of $2,000 or 1% of the purchase price*. Every time someone shares your campaign through your campaign page on social media, you earn $10 toward your down payment
UpIt™ Rebate Pledges
Supporters can shop from your campaign page at over 1,000 participating retailers to earn rebate pledges that average at 7.5%! In other words, whenever friends, family, or anyone else in your network uses your campaign page to shop with participating retailers, a percentage of each purchase will be pledged toward your down payment goal.
Saving for a down payment doesn’t have to be hard. HomeFundIt™ makes it easy. Get started today or contact us to learn more!
*Grant is a $2-to-$1 match on regular down payment gifts received on HomeFundIt, up to the lesser of $2,000 or 1% of purchase price for first time buyers, as defined by Fannie Mae, who complete homebuyer education prior to signing a purchase contract. Talk to your loan officer or visit your HomeFundIt dashboard for next steps, or you can also find a housing counselor near you by visiting https://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.
Grant funds are applied to nonrecurring closing costs. If closing costs are fully paid by seller or interested party, grant funds can be used to buy down the rate. Grant funds cannot be used towards a down payment. Visit https://homefundit.com/Terms for complete terms and conditions.
The UpIt store, partner affiliates, and shopping pledges are a service provided by The Home Dream Foundation © (3). UpIt is available only to customers of HomeFundIt. For complete terms and conditions of HomeFundIt, please visit https://www.homefundit.com/Terms.
