Welcome to my Fund My Home review!
There has been some buzz about this company and I decided to take a look to see what it’s all about.
Chances are someone approached you about the business opportunity or their mortgage services and you landed here to make sure it’s legit.
The good news is I am going to walk you through the company, products and compensation plan.
Just pay close attention and read this to the end because I am going to reveal the truth…
Fund My Home Review (Company)
Fund my Home (fundmyhome.org) for some reason doesn’t have any information on who runs or owns it.
However, I did find another URL on their marketing material on Real Estate Mortgage Grants (realestatemortgagegrants.com) which filled in all the gaps.
Fund My Home is the brain child of President and Carlos Burattini.
There is no biography or anything like that…
Now on his Facebook profile it reveals he is based out of Florida.
I checked out the Florida Real Estate Commission and found out they revoked Carlo’s Burattini’s real-estate license in 2010.
It was revoked because he got a lot of complaints but didn’t say what they were.
To be honest, that looks pretty bad when your real-estate license has been revoked and you are operating in the real-estate MLM niche…
Yikes… but let’s keep going in this FundMyHome review…
Fund My Home Products
Fund My Home offers a service which pre-screens clients for mortgages.
This is offered through Real Estate Mortgage Grants & Down Payments Assistance, Inc., which Fund My Home claims is 501(c)(3) non profit organization.
Both Real Estate Mortgage Grants & Down Payments Assistance and a bunch of other companies was incorporated by Burattini in Florida.
Now the costs involved using Fund My Home Services are the following:
- $39 for a credit report
- a minimum of $3000 for earnest deposits
- ~$450 for an appraisal report and
- $350 for a home inspection report
Despite these actual costs, Fund My Home advertises it won’t cost you much or very little out of pocket…
Check out my legit mlm companies page here.
Fund My Home Compensation Plan
Fund My Home’s compensation plan takes that $3200 from applicants and uses it to pay commissions.
Fund My Home Ranks
In this company, there are 9 ranks you can achieve inside this company.
Below is the break down on what you need to qualify for each rank:
- ffiliate – get started as a Fund My Home affiliate
- Bronze – sponsor two affiliates
- Silver – sponsor three affiliates
- Gold – sponsor four affiliates
- Platinum – sponsor five affiliates
- Sapphire – sponsor six affiliates
- Ruby – sponsor seven affiliates
- Emerald – sponsor eight affiliates
- Diamond – sponsor nine affiliates
- Titanium – sponsor ten affiliates
In order for you to qualify for commissions in Fund My Home, you must:
- sponsor two affiliates; and
- produce one down payment assistance customer annually.
Retail and Sponsoring Commissions
Fund My Home affiliates can earn $750 per produced down payment assistance customer.
This can be either a retail customer or sponsored affiliate.
Fund My Home pays residual commissions are paid through a unilevel compensation plan.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates sponsor a new affiliate, they are put on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates sponsor a new affiliates, they are put on level 3 and so on and so forth…
Fund my Home caps their unilevel at 8 levels deep.
Below is the commissions you can earn on the $3200 fee’s charge to down payment assistance customers.
- Bronze ranked affiliates receive $500 on level 1 (personally recruited affiliates) and $450 on level 2
- Silver ranked affiliates receive $500 on level 1, $450 on level 2 and $400 on level 3
- Gold ranked affiliates receive $500 on level 1, $450 on level 2, $400 on level 3 and $350 on level 4
- Platinum ranked affiliates receive $500 on level 1, $450 on level 2, $400 on level 3, $350 on level 4 and $300 on level 5
- Sapphire ranked affiliates receive $500 on level 1, $450 on level 2, $400 on level 3, $350 on level 4, $300 on level 5 and $250 on level 6
- Diamond ranked affiliates receive $500 on level 1, $450 on level 2, $400 on level 3, $350 on level 4, $300 on level 5, $250 on level 6 and $150 on level 7
- Titanium ranked affiliates receive $500 on level 1, $450 on level 2, $400 on level 3, $350 on level 4, $300 on level 5, $250 on level 6, $150 on level 7 and $50 on level 8
Cost To Join Fund My Home
Fund My Home affiliate membership will run you $49 plus monthly fee’s on top.
Unlike all the other Fund My Home reviews out there I am going to keep it real with you in the verdict…
So does the Fund My Home scam exist?
Well let’s look at the facts first…
First, I am not sure if majority of the applicants are from affiliates or retail customers.
According to their website:
Home-buyers are required to publicize their “Down Payment Assistance” on their social media when they get a “clear to close” before they close.
This ladies and gentlemen will result in more interested Down Payment Assistance recipients for you to service.
When it comes to the compensation plan, commissions are paid on the $3200 collected from applicants.
I am not sure what the source of this $3200 and there is no break down on the costs.
Now this $3200 is split and paid down eight levels in the unilevel compensation plan.
To earn in this unilevel compensation plan, you must sponsor new members with no retail volume requirements.
Keep in mind that personally sponsoring new associate members is one of the only 2 necessary qualifiers needed to receive overrides.
So in order to qualify, you must sponsor new members and at least bring in one applicant per year.
The applicant can be new affiliates as well, so this could cause it to go into pyramid scheme territory.
The fact is there isn’t any retail incentives in the compensation plan which isn’t really a good thing in 2020 and going beyond.
The FTC is really cracking down on companies where the compensation plan isn’t compliant.
Only thing you can really do is ask an upline and see how many customers they have compared to affiliates.
What you want to see is more retail happening in the company.
When it comes to talking about mortgages, you want full disclosure.
Heck this is a big deal…
Fund My Home itself operates as a corporation that has no management team backing it up with no information.
When you look at their marketing videos, they are used doing robo voices and are just flat out cheap…
Plus look at the image below:
They claim they don’t have products to sell, but they do…
It’s their services which is a prodoct.
Another thing is FMH does NOT pay commissions, but they are?
On top of that “No FTC concerns…”, but if you look at the compensation plan you are recruiting affiliates.
To be honest, this is a bit fishy…
Mortgage’s are a big deal and if you are serious about one I would talk to a lawyer and see what their propose.
Because I don’t know Property law, I can’t really give you must advice.
All I know is as a business opportunity, there are many flaws, but as a service, I would talk to a real estate agent and lawyer if you are thinking about using their service.
Approach with caution with this one…
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I hope you enjoyed my Fund My Home review and if you have any questions feel free to ask in the comments below…
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