Is Co-Ownership the Future of Affordable and Flexible Home Ownership in FinTech?

Key Takeaways:
  • Balance is a fintech startup based in West Hollywood, California that provides a more affordable and flexible way of homeownership.
  • Through Co-Ownership, Balance allows homeowners to access existing home equity, and even tap into a cash out of up to $50k.
  • Users can skip cash payments by paying with equity, and have the control to increase equity, refinance, or sell whenever they desire.
  • Balance offers solutions for homeowners with low credit scores and those who are behind on their current mortgage. It aims to put an end to foreclosure with its unique model.

The world of home ownership can often feel daunting, especially for those with low credit scores or instability in their financial situation. Balance, a fintech startup based in West Hollywood, California, is endeavouring to change this narrative through Co-Ownership. Focusing on making home ownership affordable and flexible, Balance empowers homeowners to access existing home equity for paying off their mortgage, and offer up to $50k cash out.

The need for services like Balance became greater in the years following the 2008 financial crisis, when homeownership became synonymous with high risk. Through Co-Ownership, Balance seeks to shift the paradigm, creating a bridge between established and potential homeowners, and the dream of owning a property.

Balance differentiates itself in the fintech industry through its innovative homeownership model. Traditional mortgage lenders often rely predominantly on credit scores, becoming a roadblock for many people. Balance, however, sees potential where others don’t. Through their Co-Ownership model, the startup allows homeowners to pay with equity instead of cash, offering a unique financial flexibility.

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Moreover, Balance gives the homeowners control, enabling them to stay on the title, increase equity whenever they want, or decide to refinance or sell anytime. Such flexibility, combined with the innovative equity model, makes Balance a breath of fresh air in the otherwise rigid real estate finance industry.

Looking forward, Balance is paving a new path for the future of homeownership in the fintech space. Their unique model could change the industry standard from rigid credit-based decisions to a more inclusive, flexible approach. The market today is ripe for disruption, and with increased awareness and accessibility, their innovative solutions could become mainstream, changing the way we view homeownership.

In the end, Balance’s bold vision is not just about changing the way we buy homes but about creating a fairer, more accessible property market for all. Follow them on their journey via their website at Balance and also on their social channels: Twitter, Facebook and Linkedin.

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