Multiply Mortgage, founded in 2022, addresses the challenges of rising mortgage rates with an innovative program that assists employees in home purchases. After observing that many employees were using liquidity offerings for this purpose, the startup pivoted to help navigate mortgage processes. Offering personalized services, educational sessions, and discounted rates through a network of lenders, Multiply positions itself as a financial wellness benefit provider. With backing from Kleiner Perkins, the startup is redefining mortgage assistance beyond traditional lending strategies and furthering accessibility for homebuyers amidst challenging economic conditions.
Homeownership has become increasingly out of reach for many Americans, and we don't expect interest rates to fall to the levels we saw in 2020 ever again, said Michael White.
We're really creating the category of mortgage as a financial wellness benefit, said CEO Michael White, emphasizing the significance of this approach for employees.
Today, Multiply offers employees 1:1s with mortgage advisors, education sessions around home purchasing, and discounts on interest rates up to .75%.
The startup aims to differentiate itself by focusing on financial wellness through employers, while traditional lenders remain its main competition.
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