Maximizing First Time Homeowner Savings With Matching and Rewards
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of GEM Diamond. Today’s showcase: Foyer]
A fintech startup serving aspiring and first-time homebuyers, Foyer is building the 401k for homeownership. Through its First‑Time Homebuyer Savings Account (FHSA) designed to accelerate down payment accumulation, users earn up to 4.15% APY for premium members on their savings while benefiting from deposit “match” incentives, ranging from 2% to 6% on up to $10,000 per year. The account is FDIC-insured (via Pacific West Bank) and, in qualifying states, may be structured to access additional tax-advantaged benefits. Beyond savings, Foyer provides goal-setting tools, educational resources, “Foyer Rewards” for better saving habits, and access to a network of vetted real estate and mortgage professionals. The company also partners with employers to integrate its FHSA offering into employee benefit programs, enabling payroll-linked deposit matching and housing education support.
What we like: Combining high-yield, FDIC-insured savings with deposit matching in a slick product is a clear win for the next generation of home buyers. Presents strong partnership opportunities for brokers seeking to qualify and nurture their lead funnels, as well as rental platforms who have a consumer first decision framework (since all renters desire to be homeowners).
*Part of the REACH 2025 cohort
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