Would-be buyers can get help reaching their savings goals with BoostUp, a down payment savings platform that allows family, friends and even business partners of BoostUp to match their savings. Users create a free account with BoostUp and establish a savings goal, then set up automatic deposits to reach their goal.
Brand partners such as Quicken Loans can match consumer savings dollar-for-dollar and so can real estate agents and brokers who are interested in doing business with the account holders. Consumers can only access the cash given to them by a broker or real estate agent or lender if they use that company to purchase a home. Otherwise, the money is returned to the donor.
The maximum “boost” amount is $1,000 and accounts are limited to a maximum of $10,000.
For more information, visit www.BoostUp.com.
Michele Lerner is a freelance writer. To pass on a tip or news item, contact us at email@example.com and put “Town Square” in the subject line.