Key facts
- Flyhomes partnered with Figure Technology Solutions.
- The partnership aims to expand Flyhomes' Buy Before You Sell loan program.
- The collaboration could support up to $2.4 billion in annual loan volume.
- Flyhomes' short-term bridge loans will be integrated into Figure's marketplace.
- Figure's marketplace is called Democratized Prime.
- Democratized Prime is a decentralized marketplace.
- The partnership provides a new funding channel for Flyhomes.
Flyhomes has announced a significant partnership with Figure Technology Solutions to bolster its Buy Before You Sell loan program. This collaboration is designed to potentially support an annual loan volume of up to $2.4 billion. The initiative will see Flyhomes' short-term bridge loans integrated into Figure's decentralized marketplace, known as Democratized Prime. This integration establishes a new and crucial funding channel for Flyhomes' innovative mortgage products.
The Buy Before You Sell program offered by Flyhomes enables homeowners to secure financing for a new property before their existing home is sold. This allows for a smoother transition between residences, avoiding the common stressor of needing to move out before securing a new place. By partnering with Figure, Flyhomes gains access to a broader funding base, which is essential for scaling its operations and meeting increased customer demand.