Jon Manuel

Jon Manuel

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New startup will give you $$$ for downpayment on home, with *one* catch

"Don't let the down payment get you down," is their motto. 

LOFTIUM is a Seattle-based company that will basically help people purchase their home, in exchange for agreeing to rent out one room to AIRBNB and share the profits with them.

Interesting concept, huh?

Here's how the New York Times sums it up:

It will provide prospective home buyers with up to $50,000 for a down payment, as long as they are willing to continuously list an extra bedroom on Airbnb for one to three years and share most of the income with Loftium over that time.

If you or someone you know is looking to buy a first home, might at least be an option worth exploring.