If you ask any person what are the 2 things that they need to survive, they will surely name food and shelter. These are the 2 most basic amenities that all human beings are entitled to.
Most of us buy homes on mortgage loans so that we can fulfill our dreams of having our own home.
The basic assumption that anyone can make after reading this is that mortgage loans can be obtained quite easily as long as someone has a good income.
But the reality is far from that. This is what one of my relatives had to say after he got a loan for buying his own place, "A lot of paperwork, a lot of hassles and innumerable documents - all these makes the current process very very complex, hectic and time-consuming. It is high time that the banks move to a hassle-free procedure soon."
Thankfully, someone did listen to his pleas.
Introducing Homelend, a blockchain based mortgage crowdfunding platform.
What is Homelend?
Homelend's platform is the solution to all the hassles that the customers have to go through while getting the loan sanctioned for their dream home.
Homelend aims to minimize the number of people involved in the loan sanctioning process. Instead of the 5 main steps involved in the traditional mortgage loan sanctioning process, Homelend will have only 4 steps and 4 people involved in the entire process.
This will increase the efficiency and the loan approval speed on one hand, and on the other, the costs will go down as well. As a result, the customers can enjoy lower interest rates on their loans.
In this manner, Homelend changes the way mortgage loans work and takes us to step closer to the world of modernized loan sanctioning procedure.
How does it work?
The manual loan sanctioning process requires a lot of documents to be submitted and a lot of checks to be performed. It takes around 50 days for a loan to be sanctioned currently. With Homelend's blockchain based digital processes, this time will be cut down to less than 20 days, thereby speeding up the process.
Homelend's processes are user-friendly and absolutely transparent, so that everyone, from 8 to 80, can understand how their processes work.
The number of intermediaries in the loan sanctioning process is reduced as much as possible. this, on one hand, speeds up the process and on the other hand, makes the process much more cost-effective.
Finally, since the data on blockchain is immutable, the security and safety of the platform are unmatched.
All these combined make Homelend the number one choice among the people who are seeking home loans.
About ICO
The HMD token is the altcoin of the Homelend platform.
The total number of tokens that will be generated is 250 million, 80% of which will be in circulation.
The ICO dates will be announced soon.
The project is currently priced at 1600 HMD/ETH, accepting ETH, BTC, and USD.
The project is soft capped at $5,000,000 and hard capped at $30,000,000.
The maximum bonus that can be availed by early contributors during the ICO period is 20%.
Verdict
Getting a home loan sanctioned by mortgaging the property is a Herculean task for many people. It involves multiple steps, submission of innumerable documents and a lot of checks before it is finally sanctioned. All this takes a toll on all the customers health and mind, and this is why this age-old procedure needs to be revamped so that the customers can get their loans in a hassle-free manner.
Homelend and its team understood this and this is why they introduced their mortgage based crowdfunding platform.
It involves a minimum number of steps and a minimum number of people in the sanctioning process, as a result, the loans can be obtained much more quickly and the operational costs are reduced to a great extent. This ensures that people can enjoy lower interest rates and much quicker sanctions.
Gone are the days when you had to wait in long queues to submit your documents and a lot of other things in banks so that you could get the required money to buy your dream home. Now with Homelend, you can enjoy a hassle-free process using minimum time and costs.
Truly, it revolutionizes the entire market and takes us a step closer to the modern world!
Website: https://homelend.io/
Whitepaper: https://homelend.io/files/Whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3407541
Demo: https://demo.homelend.io/
Blog by ollivander7
Profile: https://bitcointalk.org/index.php?action=profile;u=1069616