CMG Financial, the creators of a Fannie Mae and Freddie Mac approved down payment crowdfunding platform, HomeFundMe, announced on Thursday the launch of the funding portal’s new mobile app, which will allow users to share updates and post pictures and videos from their phones. The launch of the HomeFundMe app comes less than a year after CMG debuted HomeFundMe.
As previously reported, CMG Financial launched HomeFundMe this past fall. CMG Financial stated that HomeFundMe helps potential homeowners increase the amount of their down payment – resulting in more buying opportunities, better loan terms, as well as lowering and possibly eliminating mortgage insurance. The platform’s users are notably incentivized to complete homebuyer education or housing counseling in exchange for a grant opportunity ranging from $1000 to $2500. Since its launch six months ago, HomeFundMe has empowered users to crowdfund more than $750,000, over $300,000 in grants given by CMG Financial, and 229 families assisted in the home buying process.
CMG reported that with the mobile application, HomeFundMe will become even more accessible to new users and will increase convenience for the hundreds of users already crowdfunding through the funding portal. The notifications feature allows users to stay connected to their crowdfunding, and users can seamlessly share their successes via integrated iMessage and social media sharing settings. Payments are streamlined as well, with integrations for both Apple Pay and Google Pay. Speaking about the app, Chris George, President and CEO of CMG Financial, added:
“We are thrilled with the activity that we have seen on HomeFundMe in the short time since the platform launched in 2017. The milestones that we have hit are a testament to the need for innovation within the mortgage industry – HomeFundMe has been able to do this in a way that unlocks the opportunity for consumers to buy a home. With our new mobile application, we are continuing to give our users the most seamless experience in realizing their dream of homeownership with the most convenient tools. The homebuying process is not easy, but with mobile access, crowdfunding to meet your goals can be.”