This review is for those who want to buy an apartment in the mortgage, but it scares red tape. Housing is one of the most pressing problems of our time. One of the options for solving the housing problem is the mortgage. But it is inaccessible to many and, above all, because of the bureaucracy of the process, which, however, is necessary to protect all parties. Homelend company, about the ICO project of which our review, creates a solution on the Blockchain to obtain a relatively easy mortgage loan.
Problem
So, mortgage lending is a complex and long process that requires the recipients of endurance and willpower. Today, the term for obtaining such a loan is two months, at best. During this time, you need to apply for a mortgage, wait for the decision to issue a mortgage and go through the procedure of direct mortgage.
To apply for a mortgage you need to provide many different documents. These are all sorts of certificates of employment, Bank statements, tax returns and more.
Also, filling out mortgage forms requires care from the applicant. One wrong word or number and documents can be returned for reworking. Often there are unfamiliar terms in which you need to understand.
In fact, this complexity is a plus, on the one hand. Because otherwise not to protect both sides. Borrowers from various delays, and lenders from the risks of non-payments.
The situation is complicated by the presence of intermediaries in the process. These are realtors, homeowners, notary – all of them also need to communicate, receive receipts, sign certificates, and this also to some extent imposes additional difficulties.
Decision
Homelend service is a tool for registration of mortgage lending. The principles of its work are based on Blockchain technology. Due to this, the terms of registration of the mortgage from the moment of application to the transfer of the loan to the account is reduced several times.
Part of the specialists involved in the chain of mortgage registration, already built into the system and there is no need to collect information from them. Therefore, the process of applying for a mortgage will be much more like a pleasant hassle than now.
It is pleasant to note that the Homelend system has built-in tools that automate the receipt of various social benefits. This increases the possibilities and motivation of mortgage lending for different segments of the population.
Homelend also expands opportunities for those who do not have enough money to approve a traditional mortgage. To do this, they have developed special tools:
- crowdfunding. With this feature, you can raise funds from a variety of sources;
- association. Now people will be able to unite and pay the mortgage together;
- auction. This feature is for users a certain Bulletin Board. Auctions can be arranged by both sellers of housing and creditors with buyers.
Homelend has undeniable advantages over the traditional mortgage system:
- reduce the number of documents to collect;
- reduction of terms of registration of the mortgage;
- reduction of payments to intermediaries;
- increased protection of the parties, reducing risks;
- process transparency for participants;
- the ability to choose the best options through the auction principle;
- reducing the risk of fraud.
Project team
Homelend gathered experts with experience in the mortgage market and other areas required for the project. They can be reached through the LinkedIn profile.
ICO
- Token: HMD
- Smartcontract: Ethereum ERC20
- Emission: 250 000 000 HMD
- ICO start: announcement expected
- Minimum target: $5 000 000
- Maximum target: $30 000 000
- Cost: 1 ETH = 1,600 HMD
- Accepted currencies: BTC, ETH, USD
Summary
The Homelend project solves a pressing problem and opens the market to $ 31 billion a year. He has a very experienced team and high rankings in the listings of ICO projects. A worthy project to pay attention to.
Official resources of the Homelend project:
