OwnHome
Instant deposit loans and personalized buyer's agents for a streamlined home buying experience.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
* | AUD31.0m | Early VC | |
| Total Funding | 000k | ||
OwnHome is an Australian-based startup that operates in the real estate market, providing an innovative solution for individuals looking to transition from renting to homeownership. The company's primary clientele are individuals who are financially stable but may not have the necessary upfront costs to purchase a home.
OwnHome's business model is simple yet effective. It assists clients in purchasing a home by providing a 20% deposit, which is unlocked through a 2% payment on the value of the home. The client then secures a home loan for the remaining 80% from a lender of their choice, with OwnHome working with a growing panel of lenders. The client makes regular repayments to the lender and also to OwnHome for the deposit.
In addition to financial assistance, OwnHome also offers a dedicated Buyer's Agent service. This includes property hunting, shortlisting homes, providing building and pest inspection reports, and offering expert guidance throughout the home buying process. However, it's important to note that certain costs, such as stamp duty, government fees, and third-party costs, are not covered by OwnHome.
The company generates revenue through the repayments made by clients on the deposit provided by OwnHome. The startup is backed by notable investors such as CBA’s X15 Ventures and Square Peg, indicating a strong financial position and potential for growth.
Keywords: Real Estate, Homeownership, Renting, Home Loan, Deposit, Repayments, Buyer's Agent Service, Property Hunting, Financial Assistance, Australia.