HomeFundMe was created to help employers stand out through innovative benefits packages to build greater retention among the 75.4 million workers in the 18-35 age bracket. Rising rents, sky-high home prices, and massive student debt have left this group with more challenges than ever when it comes to funding the down payment to purchase a home. Most younger employees start out as highly mobile renters and 70% claim that the down payment is the #1 obstacle to homeownership.
The HomeFundMe Affinity Portal allows employers to add HomeFundMe to their benefits packages, with the option to elect to match donations in any amount. Employers simply have to share the customized crowdfunding platform with employees and HomeFundMe will provide all the materials necessary to communicate the benefit. HomeFundMe loans are eligible for a lender contribution of $2 for every $1 crowdfunded up to the lesser of $2,500 or 1% of the purchase price if the home buyer falls under the Average Median Income (AMI). Home buyers over the AMI can receive a contribution of $2 for every $1 crowdfunded up to the lesser of $1,000 or 1% of the purchase price. In addition, some HomeFundMe loans are eligible for a buyer or listing agent contribution of 1% towards the down payment. Contribution caps are regulated by the area median income, visit http://www.homefundme.com/2for1 for details.
Benefits of using HomeFundMe through the Affinity Portal platform include prequalification, fundraising coaching, homebuyer education and loan origination. Unlike generic crowdfunding platforms, users will not be charged any taxes, fees or fundraising commissions. All users will receive a dedicated support team consisting of lender, realtor, housing agency coach and fundraising coaches. All funds are Fannie Mae and Freddie Mac approved and held in escrow until closing.
For more information on HomeFundMe and the Affinity Portal, please visit: https://www.homefundme.com/
Shelter from the Storms: Pasadena Bad Weather Shelter open through March 1
Thanks for reading our post on HomeFundMe! On another matter, the Pasadena Bad Weather Shelter is open during the current bad weather season, on nights with a forecast of 40 degrees or below and/or 40 percent chance of rain until March 1. During the 2015-2016 winter, the last season with available records, the BWS was open a total of 33 nights. It served a total of 1,941 guests — 1,423 men and 518 women.
To find out if the shelter is open each night, call the BWS Hotline at (888) 915-8111. For all other questions, call(626) 797- 2402.