Landis has announced the “Landis House to Home” program to help more Americans become homeowners and make their houses feel more like home. The Jay-Z and Will Smith-backed startup that uses technology and data science to help Americans reach homeownership has designed the program to arrive in time for the holidays.
The organization will provide a $500 gift card to all clients who apply to the Landis program through November 12, 2021 and move in by December 31, 2021. They will provide an additional $500 gift card to real estate agents who refer clients to Landis.
Officials say the gift card could assist with home improvement, décor, furnishings, and other necessities. “Landis’s goal is to help as many people as possible on their path to homeownership,” stated Cyril Berdugo, the co-founder, and co-CEO of Landis. “There has been significant demand in the Baltimore area from folks who want to become homeowners who aren’t yet mortgage-ready, and we are excited to help them take their next step towards becoming a homeowner.” Landis’ average client has a monthly income of $3,500, and company officials believe $500 would prove meaningful by allowing them to purchase an item of need.
Because of funding from investors, including Roc Nation’s Arrive and Will Smith’s Dreamers VC, officials say Landis has expanded its presence across the country and brought the “Landis House to Home” program to fruition. “When Landis asked its clients what additional resources they could provide to make homeownership a little easier, an overwhelming majority had one response: money to kickstart furnishing and updating their home,” Neil Sirni of Roc Nation wrote in a statement.
“Landis listened, and through their 2021 House to Home program, Landis will provide a $500 gift card to every new client through the end of the year. Their goal is to distribute over one hundred thousand dollars through this program— helping all of their new customers in a small but meaningful way.”
Berdugo describes Landis as a social impact-driven company with a mission to guide renters on their unique path to purchasing a home and making that path more accessible, transparent, and empowering.
The company said it aims to assist Americans who have been neglected by traditional financial solutions and coaches them to mortgage readiness to purchase their dream home. If qualified for the program, clients select their home, and Landis purchases the house on their behalf and rents it to them for 12-24 months while they prepare to obtain a mortgage. “We believe that we can make a tremendous impact for underserved communities. The traditional players in the home buying industry only serve those who qualify for a mortgage today and can buy a home today,” Berdugo said. “Those who don’t qualify— whether it be for reasons of poor credit, high debt loads, insufficient savings, or just lack of know-how to navigate the process— are excluded from the market with little guidance on how to get in and have no definitive path forward.”
Home prices in the Baltimore and Towson area have increased nearly 14 percent over 2020, and the cost of the starter home market rose 16.5 percent. Berdugo says those numbers far outpace the rate of personal income growth, putting homeownership further out of reach for many.
“By buying homes for our clients today and locking in the price at which they buy back from us, when they are mortgage-ready, Landis is providing certainty that when our client has taken all the financial steps necessary to qualify for a mortgage, there is a home they can afford to buy,” the CEO insisted. “They then transition seamlessly from renter to homeowner in the same place they call home.
“Landis aims to change that outcome for everyone by creating personalized homeownership plans with clear, actionable steps to address those obstacles and coach them to mortgage readiness.”
Beyond the current deadline, Landis anticipates expanding the program. “The ultimate goal is for everyone to achieve financial inclusion and build generational wealth,” Berdugo declared. To apply, visit https://in.landis.com/landishome2021/.