MORTGAGE BLOGPOST TAGS
Blog posted On September 01, 2017
Monterey, CA – HomeFundItTM the first and only approved down payment crowdfunding platform, is proud to confirm its first funded home. Under the guidance of their mortgage loan officer, Wendy Bluhm, Jeff and Hannah Smith gave the new financing solution a try when a grant opportunity fell through.
Jeff and his daughter Hannah had been looking for a home for almost ten years but had been unable to qualify for a loan because of their inability to amass a large enough down payment. When they finally found a grant that would work, the loss of their wife and mother to cancer caused them to suspend their home search. Almost a year later, they were back on the market and found the perfect home. They decided to try HomeFundIt to see if it would help their efforts. Within days, they had exceeded their down payment goal and were ready to close on their new home.
“I have a lot of customers that can qualify for the loans that they want but they don’t have the down payment to make that loan process possible,” Wendy Bluhm explained, “when HomeFundIt was launch it excited me like nothing else in this business. It’s going to change who can buy homes and how they can do it.”
HomeFundIt has changed the way people give gifts for mortgage down payments. In the past, down payment gifts were restricted to close family, religious groups, or employers. Gifts also required extensive, sometimes invasive, documentation like bank statements. With HomeFundIt, anyone in your community can give any amount. All gift letters are documented digitally, and all funds are safely stored in escrow until the time of home purchase.
“When Wendy told us about HomeFundIt, it was new to us, we didn’t know what to expect. In a very short period of time, we were completely funded to buy the house and it was just incredible,” Jeff Smith said from the front yard of his new home.
To learn more about the HomeFundIt platform visit www.homefundit.com.
ABOUT CMG FINANCIAL
----------------------------------
CMG Financial is a well-capitalized, privately held mortgage-banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels including Retail Lending, Wholesale Lending, and Correspondent Lending.
CMG Financial currently operates in all states, including District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA and FHLMC. Throughout the mortgage banking and housing markets, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency.
