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The Crowdfunding Down Payment Option

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  • Anne Anderson
  • Richard J. Kish

Abstract

A variety of crowdfunding sites, such as HomeFundIt, provide competitive options for perspective homebuyers to obtain the necessary funds required for their down payment. Although other options exist through both federal and state government sponsored programs for home buying assistance, they typically have eligibility constraints regarding income levels. This paper, which is primarily descriptive, explores the crowdfunding options available and provides an overview of the potential costs and benefits of these options. The comparative cost analysis of the various alternatives finds that the HomeFundIt option is the best alternative for millennials.

Suggested Citation

  • Anne Anderson & Richard J. Kish, 2021. "The Crowdfunding Down Payment Option," Journal of Housing Research, Taylor & Francis Journals, vol. 30(1), pages 59-76, June.
    • Handle: RePEc:taf:rjrhxx:v:30:y:2021:i:1:p:59-76
    DOI: 10.1080/10527001.2021.1915662
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