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CMG Financial experimenting with crowdfunded down payments

Using HomeFundMe, borrowers can crowdfund their down payment from various sources. The HomeFundMe program was created by CMG Financial , a privately held mortgage banking firm.

CMG’s Austin, Texas branch was one of the first to close a loan using a crowdfunded down payment through CMG’s proprietary HomeFundIt TM program. Earlier this year, CMG expanded its proprietary All In One Loan TM to its Texas market, giving Texas homeowners more financial flexibility with this revolutionary off-set mortgage.

HomeFundIt Surpasses $1 Million Milestone. June 13, 2018; HomeFundIt TM, the first and only approved down payment crowdfunding platform, celebrated $1 Million raised last week.To date, HomeFundIt has helped 337 families purchase a home with a crowdfunded down payment. The proprietary service is changing lives around the country, one closed loan at a time.

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Privately held mortgage banking firm CMG Financial is hoping to circumvent the issue entirely and create an entirely new customer base in the process with the debut of its pilot crowdfunding service, HomeFundMe, dedicated to helping would-be homeowners collect money for a down payment in order to receive a mortgage from CMG Financial.

Fewer using nonconventional loans to fund a new-home purchase Did you know it’s possible to use grant funds to purchase a home? It’s true! There are grants available for people who need assistance with their down payment. What’s great about grants is that you don’t have to pay the money back as long as you follow the program requirements.

CMG’s Austin, Texas branch was one of the first to close a loan using a crowdfunded down payment through CMG’s proprietary HomeFundIt TM program. Earlier this year, CMG expanded its proprietary.

To combat trends that are making it harder for some people to buy homes, CMG Financial is piloting a service that allows users to crowdfund their down payments. For many Americans, saving enough.

Crowdfund with HomeFundIt: Over $1.5 Million Crowdfunded – Only Crowdfunding Program in the Nation Approved for a Mortgage Down Payment. You can have a community of friends, family, and complete strangers make contributions to your campaign to raise a down payment and become a homeowner.

It seems no matter how big your business – from a crowdfunded selfie stick to the world’s most. respectively, were recently shut down, but many more groups remain, with tens of thousands of members.