New platform aims to ease California down payment burden

Zown, a real estate platform that offers upfront financial help to homebuyers, is expanding into California with a goal to ease the burden of down payments and elevated home prices.

The service has launched in the Golden State after gaining traction in Canada, where it supported more than 250 homebuyers and facilitated $300 million-plus in transactions.

The platform gives buyers an upfront “down payment boost” by redirecting a portion of the buyer’s agent commission — up to 2% of the purchase price — to the buyer.

“In today’s market, the biggest barrier to homeownership isn’t the mortgage, it’s the down payment,” Rishard Rameez, Zown’s co-founder and CEO. “Most middle-income earners are stuck paying someone else’s mortgage via monthly rent. At the same time, they earn too much to qualify for traditional assistance programs, but not enough to save for a down payment as home prices climb.

“That’s where Zown steps in. We’re setting a new standard for the industry by providing upfront, tangible support where buyers need it most, at the start of their journey.”

Rameez added that his own frustrations as a home seller led to the creation of Zown.

Platform features

Zown pairs buyers with a licensed agent who uses the company’s tools — such as artificial intelligence-powered pricing insights, real-time comparable data and predictive analytics — to help navigate the market.

Preapprovals are processed quickly, sometimes in under five minutes, either through a buyer’s preferred lender or Zown’s system, leaders said.

A statewide network of listing agents also allows buyers to schedule home tours on demand, avoiding the bottlenecks often associated with the traditional single-agent model.

Zown said it retains just 1% of the buyer’s agent commission and returns the remainder to the buyer as an upfront down payment boost — or to buy down mortgage rates and lower monthly payments.

“California’s housing market poses steep challenges for first-time and budget-conscious buyers. Sky-high prices and fierce competition make it hard for even well-qualified buyers to break in,” said Zown President Afraj Gill.

“In cities like Los Angeles, San Diego, and San Francisco, average down payments have soared by 86% in under two decades,” he added. “Some buyers now face a 20-year uphill battle just to save enough to get started. That’s simply unsustainable. Zown’s model puts real cash back in buyers’ hands so they can compete and win in today’s market.”

Impact on agents

Agents are paid a salary rather than working solely on commission — a change that’s designed to encourage service over sales volume, Zown said.

“Buying a home is one of life’s biggest milestones, and you deserve an agent who sees you as more than just a transaction,” said Lisa Touney, Zown’s lead real estate agent for California.

“Zown’s technology was built to ensure fast, reliable, and human support every step of the way, so while Zown buyers of course praise the savings, just as regarded is the service they receive and the support they feel throughout the process.”

Zown agents also have access to proprietary tools that include consolidated data on factors such as commute times, school ratings and crime statistics — features the company said give agents deeper insights to guide clients through buying or selling.