News posted On October 10, 2017
Since its official launch, HomeFundIt has garnered attention from real estate industry professionals around the country. Emmy Award-winning journalist and Real Estate Correspondent Diana Olick recently profiled the down payment crowdfunding platform for CNBC’s Realty Check.
Watch the interview with CMG Financial CEO Chris George:
From the article:
You can crowdfund your business, your charity, your product, your vacation — and now you can crowdfund your home.
CMG Financial, a mortgage lender, just launched HomeFundMe, the first online platform that allows borrowers to crowdfund the down payment on a home purchase without fees and with the backing of mortgage giants Fannie Mae and Freddie Mac.
The majority of millennials today may say they want to be homeowners, but that claim nearly always comes with the caveat…if I can afford the down payment. High levels of student loan debt, high rent and underemployment during the recession have left the largest generation with little savings and diminished hopes of home ownership.