This spring marks Knox Financial’s three-year-anniversary. Since March 2019, we’ve grown from a small, Boston-based startup into a company that is truly leading the Don’t Sell Your Home movement across the US.
One thing we’ve always known is that lots of people find money — and all topics related to money — stressful. Some fear running out of money. Others worry if they’ve made the right investments. Parents don’t want to saddle their kids with college debt upon graduation. Retirees don’t want to be cash constrained.
Hundreds of homeowners have now placed their homes on the Knox platform. Still, for all of the homeowners who have chosen Knox instead of selling, many homeowners still decide to sell. Why? Because as they evaluate their current and future finances, they begin to worry that if they try to buy a new home while keeping their old home as an investment property, money will be tight.
It’s not that they can’t afford to become an investment property owner. They need a little extra cash to make a downpayment on their new home. Or, maybe they want some additional funds in the bank to invest in some repairs or maintenance on their investment property before they find a tenant. Maybe having extra liquidity simply makes them more comfortable and confident they can ride out the ups and downs that life throws at you.
This week, we’re announcing the launch of the Knox Equity Access Program (KEAP). KEAP Loans, offered exclusively by Knox, are a one-of-a-kind mortgage that makes it easier than ever to afford your new home and keep your old house as a smart financial asset. Knox is giving people who put their homes on the Knox Platform an easy, fast, and secure way to access their equity for a downpayment, home repairs, and more. Applying takes minutes with quick decisioning and delivery of capital.
Like every other aspect of our platform, Knox takes care of everything. Homeowners don’t have to deal with a separate bank, pay a separate bill, or do separate taxes. The loan is simply a line item on the Knox Financial quarterly profit statement for their home.
With KEAP loans, we’re truly making the process of turning the home you’re moving out of into an investment property as easy as owning a share of stock.