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:
- Three-quarters of UK fintechs criticize lack of government support during the pandemic
- Top headhunting firms for the buy side
- Pain points around onboarding new clients and remote transactions are causing wealth firms to lose clients and talent. Here's how they can improve.
from Business Insider https://ift.tt/2XK9kN6
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