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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- Two former South Korea WeWorkers just launched a real-estate tech startup. Here's a look at the growing network of WeWork alumni founding and funding new companies.
- From warehouses to office space, real-estate markets are getting turned upside down. These are the biggest winners and losers.
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