Foyer is a mobile platform that helps first‑time homebuyers accelerate down‑payment savings with a high‑yield 3.33% APY account and a 6% deposit match (up to $10 k per year). The app also offers personalized savings timelines, credit‑optimization guidance, and tools to compare mortgage rates and claim state assistance programs, enabling users to be mortgage‑ready and earn cash rewards for closing.
Funding
$6.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
2OHVFounders
Product
Problem
First‑time homebuyers often struggle to save enough for a down payment and closing costs, navigate complex mortgage rates, and identify available assistance programs, leading to delayed purchases and higher overall costs.
Solution
Foyer offers a mobile savings platform that combines a high‑yield 3.33% APY account with a 6% deposit match (up to $10 k per year) to accelerate down‑payment accumulation. The app provides personalized savings timelines, credit‑optimization guidance, and tools to calculate home affordability. Users can discover and claim state‑specific homebuyer assistance programs, compare mortgage offers, and connect with a vetted network of real‑estate agents and lenders. Earned rewards are redeemable as cash at closing, and the platform tracks progress through a Home Preparation Program to ensure users are ready when they find a home.
Target Audience
Primary customers are first‑time homebuyers in the United States seeking to save for a down payment, improve credit, and access mortgage and assistance resources.
Features
- 3.33% APY on Foyer+ accounts with a 6% match on deposits, capped at $10 k annually
- Personalized savings plan and timeline calculator for down‑payment and related expenses
- Credit‑profile optimization tips to reduce mortgage costs
- Integrated search of 2,200+ state homebuyer assistance programs with average benefit of $16.9 k
- Mortgage rate comparison tool and pre‑vetted lender/agent network offering rebates and discounts
- Rewards system that converts saved match and task‑based points into cash usable at closing
- ACH withdrawals at any time without fees (subject to loss of accrued rewards)