Affordability Accelerator: Week 2, More is More
Hello, Stakeholders of Almost Home Financial!
As a reminder, Almost Home addresses the needs of working families who can afford the costs of home ownership but are denied access to a mortgage. The company offers a financial path for home-buyers to become mortgage-ready within three to six months, including an injection of capital in the form of shared equity to resolve credit, debt and savings hurdles, as well as a personalized playbook to provide step-by-step instructions, encourage progress and track milestones.
The highlight of the week
One of the benefits of joining the Impact Hub accelerator is access to professionals who serve as mentors to the cohort for 1:1 working sessions. These meetings are meant to tackle a specific real issue we’re grappling with, as entrepreneurs. For Almost Home Financial, we tackled designing the framework for our Minimum Viable Product (MVP): identifying, through user research, the personas and use cases whose financial deficiencies can be resolved the easiest and quickest. This was a shift to focus on the quickest — rather than the biggest — impact first in order to demonstrate value and momentum to lending partners and potential investors.
Asks
What are comparable examples of new products successfully adopted by our target market (working-class families with deficient financial profiles)?
User Research (Consumer Financial Profiles) — do you know of anyone who is planning on buying a home in the next 12–24 months who might be willing to discuss their financial profile?
Facebook Survey / Ads — do you have experience posting Facebook ads or surveys to gauge interest in product features and benefits?
KPIs
The KPIs we’re tracking are those that lead to the successful launch of a pilot program in the next 11 weeks.
Consumer Traction
* 2 new requests to Austin-area affordable housing hubs for user research
* 1 request to local social enterprise to interview users who have expressed homeownership as a near-term goal
Mortgage Lender Traction
* 1 meeting scheduled with a realtor to discuss mortgage lender segments and their respective interest in Almost Home’s value proposition
We’re excited to build on this week’s momentum!
Haydee Moreno
Founder
Almost Home Financial
