Crowdfunding the gift they really want.
time of year we are all struggling to think of creative gifts for our
loved ones. Instead of the crazy tie or slippers, why not give them
what they really want.... a home. More
specifically, the down payment for your house. Being realistic, you're
not going to be writing a big fat check for 3.5% of the purchase price
of a home and put it under the tree!
society has wants that are pretty costly. Whether it's Christmas,
Birthday, or a Wedding, crowdsourcing is making big purchase gifts a
reality. Here's 3 great ways to make it happen.
Hatch My House
Hatch My House is
an online gift registry that is free to use and allows anyone to give
funds toward the registrant's down payment. The size of the gift is up
to the gifter, and Hatch My House can also be used for home renovations
in lieu of or in addition to down payments.
Down Payment Dreams
Typical wedding registries filled with housewares are seeing competition from sites like Down Payment Dreams,
created as "a unique wedding gift registry that gives couples an
opportunity to collect down payment funds for a new home." However, Down
Payment Dreams does not require registrants to be engaged couples.
Anyone can create a registry as long as they are willing to pay the $50
Feather The Nest
Feather The Nest brands
itself as a place to "fund your home improvement dreams," but this new
player in the real estate crowdfunding game is also a place to build a
nest egg to buy a house. Feather The Nest
offers enhanced social media accessibility, with shareable pages
including pictures and videos, and updates when funds are added.
you're planning to build a registry for a down payment, make sure you
look into what your loan allows, said Interest.com "Depending on the
type of mortgage you apply for, there are different rules for applying
gift money to the down payment," they said. "With FHA and VA loans, all
of your down payment can be from gift money, but with a conventional
loan, you can only use part of the gift money if you put down less than
If you're looking for more information on these
restrictions or how to set it up, call Helen today at 847.967.0022 or