News posted On December 11, 2018
Recently engaged Minneapolis couple Conner and Ashley were working full time, coaching after school, attending grad school, and wedding planning, simultaneously. With winter approaching, they were on a timeline to find the right home closer to work to reduce the length of their commute. After hearing about their home search, Conner’s father suggested that they use HomeFundIt in lieu of a traditional wedding registry.
Using HomeFundIt, Conner and Ashley were able to accept down payment contributions as wedding gifts, reach their down payment goal faster and become homeowners sooner. “They are getting married and that’s a great opportunity to, use HomeFundIt,” commented AJ Kozlak NMLS 418866, Branch Manager, CMG Financial, “instead of asking for dishes, they’re actually able to request contributions to their homeownership goals.”
HomeFundIt allows users to get started on the home buying process without making any trips to the bank or lender’s office. Once prequalified for mortgage financing, users build out a unique campaign page with photos, video, and text updates and friends and family can contribute online. The campaign page functions as an alternative wedding registry and can be easily shared on wedding invitations or on a wedding website.
Since its launch in October 2017, HomeFundIt, formerly known as HomeFundMe, has helped over 459 families nationwide crowdfund over $1.39 Million toward down payments. All gifts are documented through the platform with the proper gift letters and all funds are compliant and ready to be used at the time of home purchase. When home buyers use HomeFundIt, they are also connected with additional resources like a fundraising coach and housing counselor to explore other grant-related opportunities.
“We’re both doing graduate school right now and we’re both teachers,” Ashley explained, who resides in Minneapolis with her fiancé Conner and their dog, Joanna. “HomeFundIt really relieved some of the stress, it was very special having the support of family and friends coming into this journey together.”
To learn more about the HomeFundIt platform visit www.homefundit.com.
HomeFundIt, formerly HomeFundMe, was designed by leading mortgage lender CMG Financial and launched in 2017 as a direct-to-consumer crowdfunding platform for would-be home buyers looking to grow their down payment. Today, it has evolved into a multi-faceted digital down payment service.
HomeFundIt has expanded to include the HomeFundIt for Employee Benefits Program to allow employers to alleviate the down payment burden for employees, the HomeFundIt Realtor Portal to enable realtors to create custom cobranded websites and marketing material to expand their reach and will introduce UpIt by HomeFundIt to enable users to increase their down payment by shopping at participating retailers, early next year.
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.