How Family and Friends Can Help You Buy a Home with HomeFundIt™

Are you struggling to save for your first home’s down payment? I was chatting with Megan Merrill from CMG Financial recently, and she shared something I think could really help first-time homebuyers—HomeFundIt™. It’s a program that lets your family and friends chip in toward your down payment as a gift to make homeownership way more accessible. I’m going to break down how it works to help you understand why this is great news for first-time buyers like you.

What is HomeFundIt™? Essentially, HomeFundIt™ is an online platform that allows first-time homebuyers to receive down payment as gifts from their loved ones. It’s the first platform of its kind and is designed to make the path to homeownership easier and faster. It’s also completely free for buyers to use.

How does HomeFundIt™ work? Getting started with HomeFundIt™ is easy. Simply sign up online, upload a picture, and share your home-buying story. Next, invite your family and friends to contribute to your down payment. The process is quick and makes it easier to get into a home sooner compared to saving money by yourself.

Who should use HomeFundIt™? HomeFundIt™ is ideal for first-time homebuyers, especially those who could use a little extra help with the down payment. It’s designed with young buyers in mind, mainly in their 20s and 30s, but anyone can use it. Plus, parents and relatives can get involved to support you.

"HomeFundIt™ is a simple and effective way to fast-track your path to homeownership with the support of your loved ones."

The more people who contribute, the faster you can reach your down payment goal. HomeFundIt™ allows you to tap into your extended network for donations, not just your parents. There’s no limit to how many people can help. 

How easy is it for family and friends to contribute? Family and friends don’t need to deal with complicated paperwork. The process is simple for them. Additionally, CMG Financial will contribute $2,000 toward your down payment, which is a nice bonus to help get you closer to your dream home.

When is the best time to use HomeFundIt™? HomeFundIt™ works great during life events. Whether you’re graduating, getting married, or receiving a promotion, these milestones often come with gifts. It’s a smart way to put those celebrations to good use.

One good example is to use HomeFundIt™ on graduation day. Instead of receiving cash or something else, you could ask friends and family to contribute toward your home down payment. Weddings are another great time because you can include home down payment gifts in your registry. These milestones are ideal for getting your loved ones involved in helping you buy your first home.

I think HomeFundIt™ is a simple and effective way to fast-track your path to homeownership with the support of your loved ones. If you have more questions about the program, reach out to Megan Merrill from CMG Financial, or you can call us at (603) 557-6661 for other real estate concerns. Don’t hesitate because your dream home is waiting!