Mortgage down payment crowdfunding platform launched

A crowdfunding site billing itself as “the first industry-approved crowdfunding service providing homebuyers with the support, education and platform they need to crowdfund a mortgage down payment” has launched.

HomeFundMe was launched by CMG Financial, a privately held mortgage banking firm.

The platform encourages users to complete housing education or counseling in exchange for a grant opportunity of $1,000-$2,500.

Once the education is complete, HomeFundMe will match donations at two dollars for every dollar raised up to grant limits.

HomeFundMe links to wedding registries and other platforms so users can use life events to generate donations to the cause.