Frequently Asked Questions

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Q. Is there an investment minimum?

A. Yes. The minimum investment is currently $100 per investment, unless a lower amount remains open for a particular investment opportunity.

Q. Is HouseAfrica a REIT ?

A. No, HouseAfrica is not a REIT (Real Estate Investment Trusts). REITs, are companies that own or finance income-producing real estate in a range of property sectors. HouseAfrica is a platform that allows you to invest in property, purchase and receive rental income as a result of your ownership in property.

Q. What is the duration of my investment?

A. Your money will be invested for the term of a specific project. Terms generally range from 1 to 12 months. At the time of the updating of this FAQs, our average expected term is 8-12 months, and most full investment terms are 12 months. We state both the full investment term as well as the expected investment term on every note. HouseAfrica keeps investors updated on the progress of the underlying real estate project association with their investment, and will notify investors if a real estate developer repays the investment amount early.

Q. What am I investing in? Do I own a piece of property now?

A.When you invest in HouseAfrica offering, you are investing in a bond — a promissory note in which the investor receives a stated interest rate for a stated term that is dependent on payment of the underlying investment between HouseAfrica and the property developer. The bond is a contract between the investor and HouseAfrica. Although the investor does not own any equity in the underlying property and their name is not on the property title, the bond gives the investor an interest—shared with the other investors who have funded the project—in the underlying property. The interest in the property is the right to receive monthly interest distributions as well as the return of principal upon the developer's full payment of the underlying investment.

Q.When will I see a return on my investment?

A.Generally, monthly interest (calculated from the first to last day of the month) begins to accrue when an opportunity is considered fully funded. The first month’s interest distribution will be pro-rated. Monthly interest distributions occur on the 15th day of each month. For example, if you invest on June 19 and the opportunity is fully funded on June 23, you will receive an interest distribution on July 15 for 8 days from June 23 to June 30. On August 15, you will receive an interest distribution for 31 days, from July 1 to July 31. At the maturity date of the payment or upon full repayment from the borrower, whichever is sooner, you will receive a balloon payment of the remaining principal and interest.

Q.Can I elect to get out of an investment that has not fully funded?

A.Once you make a commitment to an investment offering, you are obligated per the Investor Agreement and will begin accruing interest once the offering is fully funded. In the unlikely scenario that the offering does not fully fund within 45 days, HouseAfrica shall refund an amount equal to one hundred percent (100%) of the principal amount received upon request.

Q. Can I get my principal back at any time?

A. At this time, your principal (the amount you initially invested) will be paid back either at the end of the investment term or when the developer repays the loan, whichever is sooner. Your principal investment amount is not liquid.

Q. How do I receive my money ?

A. Your returns are paid in the local currency into a wallet, which you can either withdraw into your connected bank account or invest in other properties on the platform. You can withdraw your money anytime by requesting a wire transfer to the bank account attached to your profile.

Q. What is RENT-TO-OWN Scheme?

A. The scheme that allows you to move into your desired apartment, continue to pay a fixed rental rate and own the house after a stipulated time frame. Essentially your rent pays for the house ownership.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. Is Rent-to-Own the same as Mortgage?

A. No, Rent-to-Own is the same as mortgage scheme and has several advantages over traditional mortgage. It is cheaper and more cost effective; the rental rate is fixed and does not change with change in interest rate; there are no anniversary charges; it is more flexible as it allows liquidation and pay off without penalty.

Q.How long will it take to move in?

A.From allocation to move-in will usually take 6-9 months. If it takes long? We try to ensure each project is fully subscribed before commencement of development. This, help minimize finance cost. Every cost saving is transferred to subscribers and makes the scheme sustainable.

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.When will I start paying for the House?

A.The rental payment commences immediately your HOME is handed over to you. The rental is paid on a monthly basis.

Q. How long does it typically take to fully fund an investment offering?

A. Not very long. In many situations investments have been funded in just a few minutes and other loans may take several weeks to fully fund. The average length of time it has taken to fully fund an investment offerings on the HouseAfrica platform has been less than one month.

Q. What is the maximum amount of time I may experience “cash drag” on a selected investment? (“Cash drag” meaning the length of time that HouseAfrica will be holding investor funds without accruing interest.)

A. Any offering that has not been fully funded within 45 calendar days will have investor’s funds automatically refunded using the original payment method. Since most deals are typically fully funded in less than a week, this should not be a material concern for most investors on the platform.

Q. What does it cost to list a project for investment on your platform?

A. Nothing! We work with real estate developers and hard investors who want to get more deals funded quickly. The developers only pays for an appraisal, closing costs, origination points, and monthly interest. We don’t charge hidden fees, junk fees or transactions fees either.

Q.How long will the Investment process typically be?

A.Once we receive all of the items in the application, we call the developer to discuss details and answer any questions. If everything looks good, the investment request is presented to our Executive team to determine the interest rate, origination points, and structure of the investment. We will directly contact the developer to present the Engagement Contract and, once the developer agrees to the terms of the investment, we order an appraisal, title, and closing documents. This process usually takes about 24 hours.
The appraisal will usually take 4-5 days for completion and submission to an Underwriter for review. Once the Underwriter is satisfied with the due diligence process and all necessary documents are received, the investment is scheduled to close. In total, an investment request can close as quickly as 5 days, but averages 10 business days depending on how quickly a developer submits all the requested documents.

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.Why should I choose to use HouseAfrica over a traditional way of funding my projects?

A.At HouseAfrica, we are able to complete funding in as little as 5 days, with short term rates as low as 9.99% and two origination points. As an online funding service with thousands of accredited investors, we have the ability to form creative capital structures that will work for your specific plans, covering both hard and soft costs. We are flexible in trying to find the best investment product that fits a developer’s needs. Also, we take great care and pride in promoting the developer on our website, to our investors and giving the developer vast exposure to a large group of people who believe in the project, and want to see it succeed. This is a new way of receiving funding, powered by e-commerce and technology in our connected and social world. Developers receive the benefits of all these forces combined, plus great customer service, and a team that is dedicated to ensuring the developer’s ultimate success.

Q. Will my contact information be given to other parties?

A. No. We will only contact you with important updates about your account.

Q. Why is my address needed?

A. Different countries have tax and regulation procedures for residents and citizens. We collect this information to help prepare necessary documents for you.

Q. How is my personal information handled ?

A. HouseAfrica ensures that all sensitive data is encrypted with bank-level encryption through Industry-leading security provider, Symantec (formally VeriSign), the makers of Norton Antivirus and other Enterprise security products. We pay for not only a 256-bit SSL encryption certificate but also a daily malware scan. HouseAfrica is dedicated to ensuring that your personal information stays secure. For more information, please read our privacy policy.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.

Q. What are these fees for? Do I have to pay them?

A. FundPress has an incredibly innovative pricing structure which gives donors the opportunity to cover the campaign's transaction fee (both the platform and payment processing fees) on behalf of the cause, ensuring 100% of the contribution reaches the nonprofit, fee-free.

Q. Are there goal requirements or deadlines when I set up a campaign?

A. It gives you a chance to reach out and let them know when you hit milestones, how close you are, and we have definitely found that communicating your supporters regularly leads to more momentum and more repeat donors.

Q. What forms of payment does CrowdRise accept for donations?

A. You can make a donation on any campaign using most major credit cards: Visa, Mastercard or American Express.

Q.Do you accept international donations?

A.Please note that all donations are made in either US dollars or Canadian dollars so the donations may be levied an exchange rate fee via the bank who issues the donor's credit card. Donors will want to connect with their bank to determine exactly what that fee may be

Q.How do I set up a match donation?

A.To match a donation on FundPress, the company or donor matching the donation can place a second donation to the same fundraiser for the same amount. They also have the ability to leave a comment during the donation process saying something.

Q.How do taxes work?

A.Crowdfunding for a non-profit, tax-deductible 501c3 charity means that as the organizer of the campaign, you should have no tax liability. This also means that you can only claim donations.