Homelend: The Next Step to Mortgages
Homelend is just as the name suggests i.e. lending for homes. A home is the only place where you can relax and enjoy the benefits of anything you desire without the thought of someone judging you. When such lending becomes a pain, you need to divert a little from the topic and give it a good thought. The makers of Homelend have done this and come up with some great workarounds to give you the liberty to make your home a little faster than the usual process. The market for mortgages is at $31 trillion which is across the globe and out of this $14 trillion is only from the United States. Isn’t it big, yes, it is. And you are about to shake it to the core.
What is Homelend?
Homelend is a peer to peer lending platform which works just like a mortgage company works. However, it is more simple, smooth and easy to get access to. It uses the blockchain technology which helps the business to flourish in all aspects. The process of lending is very primitive in the United States. Lending as a process is very slow and applying or getting a mortgage is completely complex and lengthy. It is a paper based process which needs fixing. Since this process is interfered by many departments, it needs some brainstorming so that the process can be streamlined and eased off. It is not necessary that you get a mortgage even if your income slab is above the criteria, as there are many other requirements that need to be fulfilled so that you can get scrutinized well to be eligible to get a mortgage.
It is a platform which works on crowdfunding and is decentralized in nature. Being peer to peer gives it two main purposes such as a cost effective and efficient process and the second one is a more customer centric process. You should not be kept back as you are still young and would need a couple of years to experience the stage of a mortgage. If you have the right approach and the eligibility criteria then you should get a mortgage, irrespective of anything else. This would help you to get a good and stable lifestyle.
How it works?
Homelend would connect the borrowers and individual lenders to come together on a platform that is end to end and uses the combination of distributed ledger and smart contracts for all workings. The platform has the power and vision to streamline and process the mortgage overall and give a single output to all. It ensures that the mortgage process evaluates the details of the borrower so that a thorough background check can be done before the lender finalizes the deal. It would reduce the paper work and show that you can get a mortgage irrespective of your age, background and the status. This is a long procedure in the traditional mortgage whereas it is revised in the Homelend process.
As Homelend works on the principle of peer-to-peer lending, it is very robust and has immense potential for the market. You can easily get exposure to mortgage options in and around your market and get a loan with least possible paper work. This is the biggest task for all and you should consider it in case if you are unable to get a loan for your first or dream home as well.
Advantages and Problem Solving of Homelend
Homelend has many advantages which makes it more desirable by the borrowers. It has ability to resolve differently abled issues along with regular ones to give the user a smooth and quick experience. The main benefit of Homelend is to give the users an effective, paperless, and streamlined environment process as compared to paper intensive, manual, and lengthy process from the traditional ones. It has a concept to digitize documents and other processes which otherwise needed the help of people to complete it and that too at a lesser precision. The embedded business logic helps Homelend to get the desired results with a more refined processing in place. There are many steps in the traditional method that are baseless and need not be included in the process. The general process takes about 50 days in general. But with the new Homelend process you can get the result with 20 days and that to through an end to end processing.
The general practice of mortgage is to add middlemen into it so that the right channel can be approached. However, this is not a requirement if the process is well aligned. But, with Homelend in place there is no room for middlemen as the process is automated and you just need to be aligned to it. This is a transparent process which is user friendly and fair in all aspects. Homelend helps borrowers to apply for a mortgage and track the application status to know its progress and even give the room to connect with various lenders to discuss any issues directly.
It would be very easy to get a mortgage loan now with Homelend as the middlemen have been eliminated and the process is now simplified. It would help the borrowers to enjoy a cost-effective model so that the mortgage loans can be at a discounted rate. The transparency offered in Homelend helps to keep every transaction safe and removes the middlemen such as banks to record the transactions for processing. The process of a mortgage will become more dependable as you need not worry about papers getting mishandled and vulnerable. In fact, with smart contracts and distributed ledgers, you can enjoy transparency even for the largest transactions of all.
Homelend Token Sale
Homelend is a platform and it needs access to each user. HMD is the token which is designed for Homelend transactions. You need HMD tokens to get access and transact accordingly. The tokens ensure that you get seamless, user friendly and quick access to get your job done. Since this is a new setup, you may be used to other tokens and cryptocurrency in the game. This is easily possible as you can convert your HMD tokens to any other token or currency and vice versa.
A total of 250 million HMD tokens are available for sale and they are tagged as ERC-20 tokens. The crowd sale dates are yet to be announced by the team. But the pre-sale started on 1st March 2018. The public sale is expected to start around June 2018 but is still tentative. The price for HMD at the sale is fixed at 1600 HMD per ETH. Homelend also accepts ETH, BTC, and USD for direct purchases. You can transact as per your needs and work to get as much exposure you forecasted. The soft cap for HMD is at $5 million USD and the hard cap is at $30 million USD for all users. If you use ETH for your HMD purchases then there is a bonus declared as well. This bonus is at 20% for the first week, 15% for the second week and 10% for the third week of sale. So, if you plan to purchase Homelend and you have ETH with you, then it is a lucrative opportunity to gain more from the same level of investment.
The distribution of the tokens for Homelend are aligned in such a manner that every group is given a share and the importance they need. The distribution starts with 28% being kept for the pre-sale, 36% for the public sale and 20% for the reserved fund. The founders have an 8% share in it with another 8% being reserved for the bounty program and advisors. Once the tokens have been sold, the sale proceeds will be divided into development at 40%, marketing & community building at 35% and the rest to general administrations.
Roadmap for Homelend
The roots of Homelend trace from the year 2016 when the founders started it. In 2017 it got an immense contribution of $1 million USD which gave it the power to bootstrap the company and take a step further. It then hired a team of experts in the field of architecture and designing of the concept. This was not possible without experts in finance and technology and the team started to grow in numbers. Progressing slowly in its path, the first MVP was based on the client server and followed lead to the next MVP which was based on DLT known as Distributed Ledger Technology. The rest is history as they are currently in the pre-sale mode. The year 2019 will see its first ever version of the platform and work with QA team on the testnet. The team has a goal of developing a smart agent so that the future of Homelend goes as planned.
Team at Homelend
Homelend team is a group of expert professionals who would leave no stone unturned so that you as a user can benefit from it. The founders of Homelend have come up with this unique concept which would ensure that the potential market of mortgage can be tapped well with minimal supervision. Itai Cohen the co-founder and CEO of Homelend has seen this dream of moving the $31 trillion USD market and getting it on the Homelend platform. Netanel Bitan the co-founder and CTO ensure that this concept does not fall short at any point in time. The success of this concept can be seen with the many increasing user base at the pre-sale of HMD. All you need to do is believe in the concept and keep a vision for the future.
Where to Buy Homelend (HMD) Tokens?
Homelend tokens are sold on its website. You can visit the website and get all the details and information needed. The HMD tokens would also be available on various exchange platforms and you can purchase it using ETH and BTC. This exchange would be feasible for you so that some bonus can be aligned to your investment.
The general practice to buy tokens is at all the major exchange servers which are popular across the industry. All you need to do is make use of them to buy HMD and get access to the Homelend platform.
The aim of Homelend is to get the $31 trillion USD industry to its feet. The dream is big but very good in concept. You can look at the nuances of the mortgage in the current industry and this has caused a lot of trouble to the users. With everything going digital, why should such a huge industry be left back alone? Taking this thought ahead, the blockchain technology shall help the founders of Homelend to make this dream come true. This concept will be very helpful to the borrowers and lenders so that the buying and selling of property would be smoothened enough. You can breathe a sigh of relief with the paper methods going down and eradication of middlemen to give you a more cost effective and transparent method. The old process when compared the new Homelend one can give a jolt to the mortgage industry and the results are already seen among investors.
The home owners have been facing many issues day in and out which is making the industry lose potential customers and reducing the required revenue. In this struggle to get a mortgage for your dream home, users tend to get lost in transit and are unable to get a mortgage. This is either due to the eligibility criteria or the paperwork that is needed. But when you look above such steps, you would see that such users have more potential than the ones who have all such details available with them. So, why ignore this lot of users. They should be given a chance by changing the system of eligibility criteria and reducing the paper work to minimal. Keeping this thought in mind, the founders have come up with the concept of Homelend and ensure that they would make the entire process of mortgage a smooth sailing one.