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Frequently Asked Questions

  • What is Renters Financial?
    Renters Financial is a savings app that helps renters get mortgage ready to buy their first house. You can track your homebuying purchasing power, search for a future home, set it as a goal to shoot for, earn rewards, and build your own personal Boost list so Grandma and Uncle Joe can help out.
  • How does it work?
    Sign-up only takes 2 minutes, and it’s free to get started. Answer a few questions about where you might want to live etc Use the Future Home Search tool to pick a goal home. You can set a Max price and the tool will show all listings in your selected area. Your chosen goal home price will be used to calculated a 20% downpayment goal. Build a Boost list And when you are ready you can open a downpayment booster savings account with one of our partner banks or credit unions.
  • Who are Renters Financials’ partners?
    Renters Financial only works with regional banks, credit unions, mortgage lenders and real estate agents that meet our exacting standards for service and specialize in helping first-time homebuyers. Our partners operate in all 50 states + DC
  • How much does Renters Financial Cost?
    It’s totally free!
  • How does Renters Financial make money?
    We keep things running by partnering with banks, credit unions, mortgage lenders and real estate agents who are looking to connect with first-time homebuyers like you. Our pay comes out of their commission, and not your wallet.
  • How do I open a downpayment booster savings account?
    When you sign up, an account will automatically be created for you under your phone number! Your phone number is what you will use to sign into Renters Financial verified with a code texted to you. You can start using Renters Financial for free, but you will need to open and link your partner match account to start saving.
  • Is Renters Financial a bank?
    No, Renters Financial is not a bank. We do not hold your money in an account or facilitate transactions, and we do not have access to your money. We do, however, work with financial partners and banks to help you get the best products out there.
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