Divvy accommodates alternative financing options for potential residence customers who don’t were eligible for usual mortgages. Divvy buys homes outright and allows customers to pay it back in a series of monthly remittances — 25% of which goes toward construct equity and 75% goes toward paying “rent.” The company’s COO, Adena Hefets, told us: “We want[ Divvy] to be the stepping stone that allows people to transition from leasing to eventually owning their own homes.” In October, Divvy developed a $30 million Series A round led by Andreessen Horowitz. The company is operating three cities currently( Cleveland, Memphis, and Atlanta) and in its first year, facilitated buy dwellings for over 100 people.
When Adena Hefets was growing up, her parents weren’t be permitted to get a conventional mortgage. See the rest of the story at Business Insider
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