A New Vision of Homeownership Launches Today

LOS ANGELES, March 2, 2020 /PRNewswire/ -- Fleq, a new partner in homeownership, today announced that it is partnering with homebuyers to help them purchase their next home with cash offers, no debt and single-digit down payments. Eliminating the need for a mortgage and giving homebuyers an advantage by having no contingencies, Fleq (https://fleq.com) is available now to future homebuyers in the Pittsburgh area.

"Historically, two of the biggest barriers to homeownership are affordability and attainability," said CEO and founder Todd Sherer. "For too many Americans, saving for a 20 percent down payment on a home can be out of reach and securing a mortgage with favorable terms is challenging. Fleq eliminates these barriers – and the newer barriers impacting the needs of millennials and gen-Zers."

A combination of the words "flexible" and "equity," Fleq has reimagined home buying as a co-ownership opportunity to eliminate the most common barriers to homeownership:

1. Affordability: down payments are as low as three percent and Fleq pays a portion of costs associated with homeownership – including property taxes
2. Attainability: credit scores are not part of the eligibility process
3. Sustainability: Fleq purchases are mortgage-free and debt-free
4. Flexibility: consumers decide how much of the home's equity they want to purchase initially and when to purchase more
5. Portability: When a consumer chooses to move, their equity moves with them
6. Convenience: Fleq homeowners have a designated property manager to help maintain the home – and Fleq pays a portion of repair costs

How it works
Once a consumer finds their dream home, together with Fleq they will create an Alliance. The Alliance, in turn, purchases the house – for cash. Consumers make an initial equity contribution to the Alliance between 3-8 percent, which represents their starting ownership percentage equity in the home. After that, the consumer makes monthly payments and can choose to purchase more equity in the home at any point.

For more information about purchasing a home with Fleq, call (833) GET-FLEQ or email [email protected].

About Fleq: 
A combination of the words "flexible" and "equity," Fleq is changing the way America thinks about homeownership to make homebuying more accessible and more attractive for millions of consumers. Fleq works on a shared equity model through which consumers and Fleq jointly purchase property. Consumers benefit from having increased flexibility and a partner to help with maintaining the home.

SOURCE Fleq LLC