Two strategies to build a down payment fund: set up a home fund that anyone can contribute to with no restrictions, or use a retail partner site where vendors donate 4% to 20% of your purchases toward the fund. One example: buy gifts through the partner site to help a grandchild save for a house.
Between 4% and 20% of the total purchase.
So if I have.
A year and.
I want to raise.
20% or.
25%.
So I can afford.
A bigger home.
A more expensive.
Home, I can do that.
There is no time limit.
If you have a.
Teenager who's getting.
Ready to graduate.
High school, you can set up a home fund program for them today and start raising money so that when they graduate college and have.
Their first job.
They can buy a home.
Keith asked me the other day, could.
I do this for a 10 year old? There's no age minimum.
Okay.
There's no time limit how long it will go on for.
The other piece that I.
And of course anybody can contribute. And the other piece.
Is the up it. There is a retail side of this with over a thousand.
Vendors that will donate between 4 and 20% of whatever.
The total purchase.
Is to.
Your borrower.
That means you as an agent at Christmas time.
Can go buy all of.
Your grandchildren's gifts on their.
Up it site.
And you are contributing to their down payment and they can see that. Do you think that's powerful?
Can you contribute.
To a down payment any other way? No, absolutely not.
