Stairs Financial, a start-up mortgage marketplace platform aimed at first-time buyers, has launched with a $3.5 million funding round.
Stairs Financial was founded by Malcolm-Wiley Floyd and Scott Fritz, who met as roommates at Harvard. The platform is designed to connect first-time buyers with lenders where they seek to purchase and offer detailed down payment assistance. Stairs’ free mortgage comparison product is powered by their database of home buyer programs and mortgage products.
“Thousands of down payment assistance and credit programs have sprung up to help first-time homebuyers overcome the challenges, but these home buying options are hard for home buyers to find and evaluate,” said Malcolm-Wiley Floyd, CEO and co-founder of Stairs Financial. “Furthermore, home buyers have to find a lender who can underwrite the specific loan program they want to apply for. Stairs helps home buyers find the right mortgage for them, with lower down payments, grants, and flexible underwriting.”
Stairs is now live in Texas with licenses across 40 states, and the company plans to expand nationwide in early 2024. Stairs is hosting home buyer events in Houston, San Antonio, Austin and Dallas, in collaboration with local real estate experts.
The seed funding round was led by Zigg Capital with participation from Y Combinator, its initial investor Antler, Exceptional Capital and others.
Photo: Malcolm-Wiley Floyd and Scott Fritz, co-founders of Stairs Financial
