Supportive Property Purchase Applications : Property Purchase

A new mobile application named Homie, which was designed for the iOS platform, has been introduced to assist individuals in Canada who are considering their first property purchase. The application’s primary function is to serve as a financial planning and coaching tool. It utilizes integrated banking data to provide users with a continuously updated assessment of their affordability and readiness for a mortgage.

A significant aspect of Homie’s launch strategy is a formal collaboration with the mortgage advisory firm Homewise. This move serves to establish a structured process whereby potential buyers who are not immediately qualified are directed to use the Homie app for ongoing guidance. The property purchase-assisting app employs automated coaching to help users improve their financial standing over time, with the intended outcome of returning them to the partner organization as prepared clients when they achieve mortgage-ready status. This model is presented as a solution to a common industry challenge — the difficulty and cost for financial service providers to maintain long-term nurturing relationships with prospects who are not yet prepared to transact.

Image Credit: Homie