Buying a home, particularly for Millennials, is a complicated and expensive process – at times it can be complicated and expensive enough to discourage potential buyers from even trying.
Enter Divvy, one of the many Silicon Valley startups working to change the way people buy homes. The company is specifically interested in providing alternative financing options for prospective homebuyers who don't qualify for traditional mortgages.
Divvy accomplishes this by purchasing homes outright and allowing customers to pay the company back through monthly installments — 25% of the total goes toward building equity and 75% goes toward paying "rent."
See the rest of the story at Business Insider
See Also:
- Goldman Sachs-backed fintech Even Financial just bought a life insurance startup. Here's why that bet could pay off as policy applications soar.
- Nasdaq has launched a cloud-based data service that will operate through Amazon Web Services
- A former Point72 portfolio manager just broke through the industry-wide chill on fund launches by kicking off a $250 million supply chain-focused hedge fund
from Business Insider https://ift.tt/2yvcibo
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