Crowdfunding program helps buyer get down payment
The way people are able to save for the down payment on a home is changing, all thanks to a new program. HomeFundIt is a down payment crowdfunding platform approved by Fannie Mae and Freddie Mac.
Heather Wroblewski from Berkshire Hathaway HomeServices Nevada Properties, along with the Nancy Storey Team, are working to help Southern Nevada Homebuyers apply for this program.
“This is one of the most innovative programs that has been backed by Fannie Mae and Freddie Mac.” Wroblewski said. “This program allows people to use funds from crowdfunding for their down payment on a home if they raise the money through this exclusive program. Until now, down payment funds could only be contributed to an immediate family, church or employers. This is huge for people who qualify but don’t have the money for the down payment.”
Benefits of the program include raising funds from more sources including family, friends, co-workers, and even strangers.
The program highlights include:
■ Must be able to qualify for a conventional loan.
■ All buyers must complete a Homebuyer Education course.
■ Lender match 1:1 contribution. 1 percent toward down payment up to $1,500.
■ No taxes, fees, or fundraising commissions on money raised.
■ Fannie Mae and Freddie Mac approved.
■ Available for first-time and repeat buyers.
For more information about this new program and other options, call 702-867-0005 or visit www.greatervegashomes.com
