At the core of Hurry Home is our effort to try to solve a big problem - many Americans have been shut out of the mainstream paths to homeownership, missing out on the key way families build wealth. One part of this problem comes from some of the houses being too affordable. There are desirable houses that cost less than $70,000 and there are people who want them, but banks are unable to profitably originate mortgages for properties in this range. The prospective homeowners are left to either continue renting, earning no equity, or find seller-financing, a field with its own big problems. Hurry Home offers a different way.
Hurry Home finances houses for qualified buyers through shared ownership, offering more flexibility than a mortgage as well as more protection than seller-financing. We use capital raised from 3rd party investors to purchase houses and then sell them to qualified buyers on our Homeowner Contract. With each payment, investors earn a return and buyers earn equity in their house. At the end of our Homeowner Contract, buyers own the homes free and clear. Throughout this process Hurry Home is co-invested in the property - the only way we succeed is if our homebuyer succeeds.