The innovation of Crowdfunding has helped people raise money for everything from business startups to inventions to movies but never before in the form of down payment funds to be used to purchase a home
By Robert Hoskins, Front Page Public Relations
When an Orlando Realtor presented his client’s offer for $30,000 over asking price in order to compete with private investors and hedge funds using all cash to buy a home, he never knew that the idea he had that day would become a reality. Now the local Realtor is making his way into the crowdfunding industry to help potential homeowners raise the down payment needed to buy a home with HomeFunded.com.
First Home Down Payment Crowdfunding Site, Provides Hope to Potential Home Buyers
“Who would have thought that on a day when a client had to offer $30,000 over the asking price just to get an accepted offer would also bring hope for potential home buyers” states Realtor Aaron Mighty. He has started what many would have thought unlikely in the current improving housing market, an opportunity for those with less resources, building a crowdfunding site from the ground up all on the simple premise that home buyers should come first not hedge funds.
Not only will HomeFunded.com provide qualified home buyers an opportunity to put down more on a home to compete against hedge funds, who seemingly are buying up every quality home on the market for rental purposes, but it will also open up more opportunities for homeownership to working class families who have been struggling to bridge the gap between renting and owning.
HomeFunded.com will work by bringing together home buyers who will start a down payment campaign by sharing their stories of what homeownership means to them with their social network via Facebook, Twitter, LinkedIn, YouTube and the HomeFunded.com community to attract contributors who will gift funds in increments of five dollars to help them reach their down payment goals.
So will HomeFunded.com change the way home buyers look at down payments? Only time will tell if the concept is viable but the idea is certainly innovative and “the future of the American dream of homeownership has never been brighter” says Mighty.
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