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:
- Home-financing startup EasyKnock is seeing surging demand. Its CEO reveals how it's adapting with a new marketplace for investors looking to put their money in residential property.
- Credit Sesame has acquired challenger bank Stack as it moves further into banking
- N26 bolsters its business lineup with premium freelancer accounts
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