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Home financing startup Haus raises $15.8 million for housing “co-investment”

ImpactAlpha, June 16 – California-based Haus helps homeowners restructure their mortgages, rather than refinance. The company “co-invests in the home,” taking a portion of the equity, giving homeowners liquidity and helping them lower monthly mortgage payments. Owners retain the home title and can repurchase equity or sell at any time, the company says.

It has raised $15.8 million in a Series A round led by BlueRun Ventures.

Like paying a mortgage, Haus users make monthly payments to build equity. They also pay a fee to Haus, which the company says it sets below mortgage interest rate levels. Payments stay the same, but the amount of equity a payment buys is based on the home’s monthly valuation.

Haus CEO Jonathan McNulty acknowledged that Haus might not be the right option for “the less than 1% of homeowners” who pay off a 30-year fixed-rate mortgage. “But 80% percent of people sell their home within 10 years.”

The team behind Haus, including Uber co-founder Garrett Camp, designed the concept with professional millennials in mind; the company is looking to build options for low-ownership groups like single mothers and members of the military, or seniors who need liquidity for their grandchildren’s education, for example.

To target higher-needs groups, Haus CEO Jonathan McNulty told ImpactAlpha that the company would look to impact investors to enable Haus to lower its fees.

Patch Homes, which also has a model for debt-free home refinancing, raised $5 million last September.

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