SAN FRANCISCO--(BUSINESS WIRE)--As home affordability and growing prices place more financial burden on all homeowners, Haus has launched a new financial solution that upends the existing home financing market. By leveraging blockchain, Haus offers customers a flat fee homeownership for $1,000/month, plus the cost of property tax, insurance, maintenance, and HOA payments, on homes with a Haus investment value up to $2,000,000. In addition, customers have access to buy and sell their equity, giving them liquidity on their largest asset.
“According to a recent study from Consumer Affairs, 78% of millennial homeowners now feel house poor, and 40% of homeowners take on second jobs to afford their mortgage. We believe consumers deserve another path to stable, long-term housing,” says Haus CEO Jonathan McNulty.
Haus leverages blockchain technology to create liquidity in the world’s largest asset class which has long been restricted by the rigidity of the existing mortgage and securities markets. By creating an entirely new financial infrastructure using liquid and transparent technology, Haus is creating a model of homeownership that is more flexible and affordable for consumers.
“With our first round of customers, we had several families who lost their jobs and income due to Covid-19. While this would traditionally end in foreclosure, with Haus these customers used a small portion of their equity to cover their monthly payments, and when they were once again employed, they continued making monthly payments and some even bought back additional equity,” explained McNulty.
Where a mortgage allows consumers to purchase a home with significant leverage, Haus empowers consumers with a non-levered solution, providing low monthly payments and a way to dollar cost average into their home over time, and on their own schedule. With financial risk significantly reduced, customers choose to use their monthly savings for whatever they deem the best use, which may be investing into more of their home equity, saving for retirement or building wealth through other investments. Haus currently operates in California, Oregon, Washington, and Colorado, with plans to expand to additional states later this year.
Haus has been able to release such an innovative consumer product because of its recent release of HausCoin. A blockchain-based equity offering that allows investors to purchase tokens backed 1:1 by home equity. To learn more about HausCoin, you can visit www.hauscoin.com or download the Haus Product Brief.
About Haus:
Haus is a technology company providing a more flexible and affordable way to own your home. Rather than lending money like a bank, Haus invests with owners in their home equity. Built on blockchain, the Haus equity solution offers homeowners low, fixed monthly payments and immediate access to their equity. Haus is headquartered in California. For more information on Haus, please visit haus.com. HausCoin ($HAUS) is the investment holding company for Haus equity agreements, empowering investors to purchase tokens backed 1:1 by home equity. For more information visit hauscoin.com.
