Millennial Lower Home Buying Platform Launches Mobile App, HomeFund ™ Deposit Account with $ 1,000 HomeCash ™ Rewards Match
NEW ALBANY, Ohio, May 20, 2021 / PRNewswire / – Lower, the Generation Y and Generation Z-centric home buying platform, today announced the launch of its mobile app featuring the new deposit account, the first of its kind, called “HomeFund™. “The FDIC Insured Interest-Bearing Deposit Account is Designed to Help Consumers Advance their Home-Buying Journey with a Dollar-for-Dollar Match in” HomeCash™“reward until the first $ 1,000 checked in. The account offers additional incentives in the form of a “HomeCash” bonus earned through an exclusive rewards experience and a generous 0.75% annual percentage return – currently twenty-five times higher than the average national deposit rate for interest checking accounts1.
“We are delighted to launch our mobile app with HomeFund, the first dedicated home savings account with correspondence,” said CEO Dan Snyder. “We have already helped tens of thousands of families buy homes, but we found that many of the people who applied to Lower were not quite ready to buy. We believe we have created a unique product that will attract more people. a faster path to homeownership, which is the greatest creator of wealth for most families and individuals in the United States “
HomeFund is based on the API-based payment processing platform provided by Galileo Financial Technologies(R) and the accounts are held at Evolve Bank & Trust at Memphis, TN.
“We believe in Lower’s mission to democratize wealth creation by helping more Americans buy and own homes,” said the CEO of Galileo. Clay wilkes. “We are honored that they have chosen Galileo’s flexible and customizable API platform to create their innovative HomeFund savings account, and we look forward to working with them as they grow.”
Lower’s goal is to provide the best customer experience and the most cost-effective journey to homeownership through four key differentiators:
- Bundled approach: Lower bundled the experience by owning all the verticals of the process. Lower down are the lender, loan manager, insurance broker, and deposit account, allowing it to help more buyers and homeowners.
- Tip: The keystone of Lower’s approach and effectiveness is a conversation with a human to identify and define each person’s unique situation and build a personalized path to homeownership.
- Design: An intuitive interface with quick and easy credit score checking, which is simple and easy to use.
- Execution: Lower is customer-driven, with 10,000 five-star reviews in less than two years.
“While student loan debt and soaring house prices have led some to speculate that millennials will rent long-term rather than buy, in fact, millennials make up the highest percentage of the population who buying a home – 38% – and 85% of Millennial renters prioritized buying a home within the next three years, ”Snyder noted.“ 57% of lower buyers are first-time home buyers, and buyers of GenZ are twice as likely as others to use a digital platform for a loan. “
Lower makes the home buying process quick and easy. Its ecosystem gives homebuyers several product funnels they need to find and finance a home, buy or sell a property, or link with a savings account, all while receiving personalized advice along the way. Lower works with more than 35 major insurance companies nationwide, including Nationwide, Liberty Mutual, and Allstate. The company has funded more than $ 2 billion in the form of loans, helping tens of thousands of families to become homeowners and build wealth faster. To learn more, visit www.lower.com.
Lower is an equal housing lender. NMLS ID # 1124061. Visit nmlsconsumeraccess.org for licensing information.
Accounts are held with Evolve Bank & Trust, member of the FDIC.
For more information on the HomeFund account and disclosure details, please visit www.lower.com/save.