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:
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- The way we shop and pay is transforming. Here's a look at the hottest trends and biggest players.
- Jobs for thousands of young consultants are being upended. From delaying start dates to cutting internships, here's what 8 top firms, like Deloitte and McKinsey, are doing.
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