Show HN: We're building homeownership where banks don't go

Hi, I’m John. My co-founder Jada and I are helping people in the Midwest buy houses worth $80k or less through a shared ownership structure that enables residents to accrue protected equity in their homes with each monthly payment - https:&#x2F;&#x2F;www.hurryhome.io&#x2F;impact-investing-real-estate<p>Nearly 1 in 5 houses across the country are worth $80k or less. In many Tier 2 and Tier 3 cities, this stock makes up 10-30% of the available housing (in South Bend, IN where we live, the median house value is $78k). But these houses are still inaccessible for a lot of working families who want to be home owners - instead, they typically end up renting the same housing and miss out on the primary way Americans build wealth.<p>what’s stopping people from buying these houses?<p>Banks aren’t interested in making mortgages below $80k due to their profit structure. When a bank makes a mortgage, the majority of its revenue comes from the fees it charges to originate, typically a percentage of the total loan value. But since many mortgages are sold to the secondary market (Fannie and Freddie), it costs the bank the same amount to make a $50k loan as it does a $500k loan. If they are servicing the loan for Fannie or Freddie they’ll earn a fraction of the interest, but how much money that equates to still depends on the size of the loan while again having fixed costs. So if it costs a bank at least $800 to make a mortgage, they’ll lose money on every loan they make worth less than $80k - https:&#x2F;&#x2F;www.wsj.com&#x2F;articles&#x2F;small-mortgages-are-getting-harder-to-come-by-11557394201<p>This is the problem we&#x27;re solving with Hurry Home.<p>We work with individuals looking to make investments for passive cash flow while still making an impact on people’s lives. Investors can buy homes for as little as $25k and earn a predictable return.<p>Excited to share this and would love to know your thoughts and suggestions