California homebuyers are grappling with soaring prices and rising mortgage rates, necessitating an income of $218,000 for a median home purchase—an alarming 82% increase since 2019. To alleviate these struggles, Zown, a Canadian startup, has introduced down payment assistance utilizing automation and salaried agents to lower real estate commission fees from over 2.5% to approximately 1%. Founded by Rishard Rameez, who faced similar challenges himself, Zown offers buyers rebates of $10,000 to $15,000, significantly easing the burden of home purchases for working-class and first-time buyers.
Potential buyers in California face increased home prices and mortgage rates, requiring an income of $218,000 to afford a median home, an 82% rise since 2019.
Zown, a Canadian startup, aims to assist first-time buyers by cutting commission fees through automation, providing down payment assistance that can amount to $10,000-$15,000.
#california-housing-market #home-affordability #down-payment-assistance #real-estate-innovation #housing-solutions
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