News posted On June 19, 2018
Tampa, FL – Last December, the Diaz family was in crisis after suffering an unspeakable loss when their home was destroyed in a fire. They were left with no home, no presents for the holidays, and no next move. After their story gained local media attention, a childhood friend and CMG Financial loan officer, Alain Juvert NMLS 1173442, reached out to introduce them to HomeFundItTM, the down payment crowdfunding platform.
“Their mindset was, we need a place right now,” Alain explained, “and I suggested rather than rent something, let’s buy something. Let’s use this tragedy for something good. So, I put them in touch with the people at HomeFundIt and they took over from there. The story ends where we are now, in their new home.”
HomeFundIt is the first and only industry-approved crowdfunding platform designed specifically for the down payment on a home. Using HomeFundIt, Alexy, Yoana, and their son Julian were able to raise money for the down payment on a new home. Within weeks, the family was able to purchase a new home, as first-time home buyers.
Alexy Diaz was surprised at the response his family’s campaign received. In an interview, he described seeing donations ranging from the local Tampa area to as far as Puerto Rico. “There’s people that can help you get through this process,” he said, “we started shopping for a new home and little by little money started coming in, it started getting there […] and then we had our down payment, we had all the money that we needed to get.
In the past, down payment gifts have been restricted to close family, employers, non-profits, or church groups. With HomeFundIt, anyone can give, all gifts are documented within the platform, and all funds are held safely in escrow until the time of home purchase. Since its launch in October 2017, the program has helped over 300 families nationwide crowdfund over $1 Million toward down payments.
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.