Homes you don't think can be yours?
Why don't banks want you to have these houses?
At the end of the day, it's about money - banks just don't make enough money from helping you buy one of these houses, and banks are businesses - they want to make money.
So why don't these banks make enough money?
The bank's profit is tied to the value of the house so the banks want to focus on the more expensive house, making them more money on each loan.
Then who can buy them?
Cash investors who might rent the house out to make money so they may not care about repairing or keeping it maintained or cash investors who may renovate and raise rent prices - changing the neighborhood as a result.
Hurry Home allows renters to buy these houses!
Hurry Home provides a new way to become a homeowner by helping renters transition to homeownership over time. We buy the house and then sell it to you over 10 years through our Homeownership Contract. You pay close to what you would have paid in rent and with each payment, you own a bit more of the house.
Here's a story about Sam...
Sam was always a good renter. In fact, he rented the same house for 2 years and never missed a payment. Despite this, even though he always wanted to buy a house, Sam was pretty sure he wouldn't be able to - his credit wasn't great because of some student loans he was working to pay off, and the house he wanted was under $60,000 - no bank wanted to help him buy it.
With Hurry Home though, Sam was able to buy the house he wanted! He made his payments like he had when he was renting, but after 10 years, he owned the house and the only bills he had to pay were taxes and insurance. Now when he wants to, Sam can made changes to his house, adding another room or finishing the basement. He can sell the house for a down payment on a bigger house if he wants, or he can continue to live there and eventually give it to his children.