Former Caribou founder Kevin Bennett launches Further, a fintech platform designed to demystifythe financial complexities of home buying, particularly for first-time buyers.
Buying a home, once a relatively straightforward process, has become increasingly intricate. Navigatingdown payments, mortgage rates, closing costs, and various loan options can be overwhelming, especially for first-time buyers. Recognizing this challenge, Kevin Bennett, theco-founder of the auto loan refinancing startup Caribou, has launched Further, a fintech platform aimed at simplifying the financial aspects of homeownership.
Further’s initial offering is a user-friendly calculator that provides real-time insights intoaffordability, monthly mortgage payments, and closing costs based on current interest rates. Unlike generic calculators found on popular real estate platforms, Further goes beyond mere numbers. It analyzes individual financial profiles, offering personalized guidance on loan suitability, potential waiting periods, andrecommended loan types.
A generation ago, buying a home was simpler, Bennett explains. Now, with rising home prices and a multitude of mortgage options, the process is significantly more complex and financially impactful.
Bennett’s inspiration for Further stems from his own experience buying and selling a townhouse in his 20s, where he encountered a $30,000 loss despite selling at the original purchase price. This realization, coupled with his conversations with recent homebuyers who struggled with the process, solidified his belief in the need for a more intuitive and personalized approach to home buying finances.
Further’s mission is to empowerpotential homebuyers with the knowledge and tools to make informed decisions. The platform is currently free to use, with monetization plans for future product developments.
We want to make the home buying process less daunting and more accessible, Bennett emphasizes. By providing clear and personalized financial insights, we aim to help people achieve theirdream of homeownership with confidence.
Further’s launch comes at a time when the real estate market is experiencing significant shifts, making it even more crucial for buyers to have access to accurate and actionable financial information. With its user-friendly interface and personalized insights, Further has the potential to become a valuable resource for both first-time and experienced homebuyers navigating the complex world of real estate finance.
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