HOMELEND – Mortgage now, perhaps, the only way to get own housing for the average citizen. But it is not so easy to formalize – you need to sign a lot of documents and prove your solvency by different methods to count on credit approval by the bank. And the client is sometimes deprived of the opportunity to control the situation of lending from and to. And this system of mortgage registration is already outdated. The Homelend project, based on blockchain technology, proposes to move this process to a whole new level.
Own housing, where a person can feel free – natural and one of the basic needs of any person. Unfortunately, in modern economic conditions, its purchase is quite a difficult task. Sometimes to solve it helps to formalize a mortgage loan. However, the modern system of obtaining a loan is already hopelessly outdated – it is complex, time-consuming and means-consuming, involves participation in the process of issuing loans to a large number of intermediaries and third parties. It is also time to change something in the assessment of human solvency. The Homelend project will be able to destroy the existing archaic mortgage lending.
Homelend is a platform of P2P format allowing to receive loans of various sizes. Its main tasks-to radically change the entire lending market, modernize it, bringing to a new level, make mortgage lending oriented to the client and profitable. So far, there are opportunities to formalize a loan of only a small size on different platforms P2P. And Homelend will give an opportunity to take even a mortgage. This way, users can improve their living conditions thanks to the project.
Work platform will be based on blockchain-technology, as well as it will involve smart contracts that will help to establish the best option of cooperation between the lender and the borrower directly. The system will process all loan processing processes from the moment of contract conclusion and before the last payment of the loan.
Homelend offers users to use three ways of crediting:
Crowdfunding is the simplest option. Lenders will be able to invest their funds in the form of small mortgage “lumps”, and borrowers-to collect the necessary sum of them. This way the loan is divided into small shares.
Unification. Thanks to this option the crediting system will become economically flexible. Investors will be able to provide money through smart contracts prior to the pre-approval of the mortgage. That is, they acquire a small share of the loan, but until the moment of granting the loan.
Auction. This method will allow investors to offer loans in the format of investment opportunities. You can find a borrower who has a good rating, with a generous interest rate. And there’s no financial buffering. Lenders will be able to give the borrower conditions even better than the system itself offered, that is, personalize them for the needs of a particular client.
Regardless of the chosen method, all finances will be controlled through smart contracts without the participation of third parties and various financial organizations. The same contracts will help to automate and simplify the crediting system, making it more convenient for all parties. Inside the system will operate its own token HMD. Its owners will be able to access the platform. It will also allow you to quickly and easily use the platform services.
Total number of tokens: 250 mln.
Cost: 1600 HMD = 1 ETH
Softcap: $5 000 000 Hardcap: $30 000 000
Thus Homelend will have a number of certain advantages. The project will become effective, transparent, safe, economically advantageous for both sides of the concluded loan agreement. Thanks to him, it will be much easier to get a loan to buy housing than under the current lending format. And the time spent on processing documents, in all likelihood will be reduced to 20 days. The project will certainly be popular among ordinary users and investors.
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