Today, EasyKnock, the first technology-enabled residential sale-leaseback platform, announced its plans to launch BuyBoost, a new program in partnership with FinLocker designed to help customers progress towards mortgage readiness. This anticipated new program is a testament to EasyKnock’s continuous efforts to expand the tools it offers to its customers, an endeavor Inc. also acknowledged today by ranking the company No. 1532 on the 2023 Inc. 5000 annual list of the fastest-growing private companies in America.
“BuyBoost is essential to EasyKnock’s mission to empower families with financial flexibility and control so they can prosper and achieve their goals,” said Jarred Kessler, CEO and founder of EasyKnock. “As the company continues to grow, we’re expanding the means by which we can help our customers through every step of the homeownership journey. Recognition on the Inc. 5000 list reflects this growth, and we are honored to be named alongside so many other outstanding companies that are making a difference in the U.S.”
BuyBoost would serve as an alternative to cash-out refinance loans and home equity lines of credit (HELOCs) for homeowners who need liquidity but are unable to qualify for loans due to lender requirements. To address this market, BuyBoost would offer customers the choice to convert their home equity into cash by selling their home, remaining in the house as a renter with an option to repurchase or direct another sale — while taking advantage of digital financial tools to boost their readiness and ability to buy the house back or upgrade to a new home. EasyKnock plans on working with lenders to add enhancements, such as allowing customers to use proceeds from the sale-leaseback transactions to buy down the interest rate on their next mortgage, providing the opportunity for homeownership at a lower overall cost.
“FinLocker remains steadfast in its dedication to fostering financial inclusivity, enabling more Americans to achieve and sustain homeownership,” said Brian Vieaux, president and COO of FinLocker. “We are excited to partner with EasyKnock to provide homebuyers with a homeownership-focused financial fitness app to improve their financial health so they can qualify for a mortgage. Through the app’s guidance, EasyKnock customers will embark on a personalized journey to overcome their financial challenges, learn how to responsibly build credit, better manage their finances, save their down payment, and track their progress towards mortgage readiness so they will know when they can qualify for a mortgage and achieve their goals.”
The anticipated launch of BuyBoost is key to EasyKnock’s marketplace, which will provide a new, more fulsome suite of products and services that will offer consumers alternative ways to buy and sell, finance new homes, and utilize their equity all on one platform. In May, the company took an important step in developing the marketplace through its acquisition of assets from Ribbon, an industry leader in powerbuying and cash offer solutions. The transaction ushered in a new chapter in real estate, bringing together financial solutions that serve homeowners, buyers, and sellers into one unified experience. EasyKnock relaunched RibbonCash this month in Atlanta and Charlotte.
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.