Foyer unlocks $6.2M to help people save up to buy homes

I’m excited to announce a major milestone in Foyer's journey to help every first-time homebuyer in the US navigate homeownership. We have raised additional capital from several amazing, mission-aligned investors across the property technology and financial technology spheres. With this funding, we’re committed to further investing in our product to build the best platform for homebuyer preparedness and save aspiring homeowners more money on their home purchases. Over the next few years we will have three core product focus areas to provide 1. Confidence, 2. Savings, and 3. Education to the next generation of homebuyers.

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Buying a home today is harder than it’s ever been. Even the thought of entering the housing market can feel overwhelming and discouraging. Our first goal is to provide aspiring homeowners greater confidence to begin planning towards life’s biggest purchase. We will do so by creating a personalized experience that is low pressure to engage: Set your own home goals and use Foyer at your own pace. Have confidence that you won’t be sold a service you don’t need or pushed into a situation too soon.

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We can all agree that homebuying is more expensive than ever. For some of us it feels like we've just missed the window of affordability. We created Foyer to help level the playing field. We can’t solve the affordability crisis entirely but we can help our members optimize every possible dollar and get the best deals. First time homebuyers are learning while buying - so often aren’t aware of all the ways they can save across the home purchasing journey. Whether it’s helping you save earlier, finding you down payment assistance, or helping you negotiate a lower cost mortgage - Foyer is committed to helping our members save as much as possible.

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Most people only buy a home once in their lives so it’s unsurprising that the average buyer needs help understanding the process, the requirements, the tricks of the trade. Homebuying education is abundant but it’s overwhelming and hard to action. Foyer exists to provide more relevant education to our members and make it easier to make sense of. What does it mean to put less than 20 percent down? What’s an FHA loan? How does my credit score affect mortgage rates? Everyone should be armed with this information prior to talking to a mortgage lender or real estate agent. We believe personalized education will lead to better financial outcomes for our members.

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We have a long road ahead of us and a lot to build in order to make a dent on the home affordability crisis. I want to thank our Foyer team for working tirelessly on our product experience, our investors for their belief in our mission, and most importantly our members who are the reason we do what we do.