Problem:
Young people want to buy a home but often don't have a sufficient downpayment.
Solution:
Helps the first time home buyer obtain a mortgage by utilizing the equity from a relative's home as part of the down payment.
Test Results:
Survey fielded at three credit unions. 57% of respondents were likely to take advantage. Directions Credit Union implemented program but no results documented.
Getting Started: Contact us to learn more about this idea from Filene i3.