Digs.co
Save for a home automatically by earning cash back on rent
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Connor Montgomery

Digs - Savings app that matches the money you save for a home

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Digs is the only savings app that helps people reach homeownership. It offers a unique contribution matching program that accelerates the saving process. It also helps people make better financial decisions through educational tools and loan recommendations. All Digs accounts are insured by the FDIC up to $250,000.

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Pat McLoughlin
Maker
Hi Product Hunt, We’re happy to announce that we’re launching Digs in all 50 states in the U.S! After a long year of research, product development and partnerships, you can now save for your first home in an FDIC insured account. First thing’s first: you’re probably wondering how we’re able to match funds. Well, in short, the funds we match are reserved for a home purchase and are given back to you at the closing table when you purchase your home. We work with a network of lenders who agree to honor these funds. The other part of the app we’re really excited about is our educational tools and content. Right now you can learn about each step of the home buying process, weigh pros and cons of different down payment options, and read in-depth articles on many other topics specific to purchasing your first home. Financial inclusion is at the heart of everything we do, and we know that an educated buyer is going to make a better financial decision. Ultimately, our goal is to help you take control of your biggest asset: your home. And we’d like to start by helping you purchase your first one. Let us know if you have any questions. We’re so excited for your feedback!
Zach Anderson Pettet
@patmclo Beautiful product solving a major pain point for consumers. Keep going Digs team!
Chad Johnson
Maker
@zachpettet thank you sir! 😄
Drew Meyers
@patmclo Very cool. There's a ton of room for innovation on the down payment side, that's always been the major the barrier to homeownership for many. I've always wondered why BofA, Chase, Wells Fargo, etc don't provide an app like this to their current customers. Let me know if you'd like to be profiled with a founder interview on @geekestate
Pat McLoughlin
Maker
@drewmeyers Yeah that sounds great! I will send you a message now and we can go from there.
Eric Jorgenson
This is a beautiful product -- I got to work with these guys a little as they were building. They are super talented.
Chad Johnson
Maker
@ericjorgenson thanks a lot! We really appreciate the kind words 😄
James Villarrubia
Are there limits? (So no one has to go looking like I did). ::FROM THE SITE:: Yes, the most you can earn each month is $40 in Digs' matches. In order to reach this maximum, you would have to contribute $1,350 of your own money each month. Digs' matches are designed to kickstart your savings, meaning we match more money upfront. We also do not want to discriminate against those who can't save as much as others. Our tiered matching is outlined below: First $50/month = $5:$1 matching Next $100/month = $10:$1 matching Next $200/month = $20:$1 matching Next $1,000/month = $100:$1 matching https://help.digs.co/banking/are...
Chad Johnson
Maker
@james_mtc thanks for posting that James! You can also check out our matching calculator on the homepage here https://digs.co/#more
James Villarrubia
@chad_johnson Cool. What's that bank APY based on?
Chad Johnson
Maker
@james_mtc we used 2% APY, which in all honesty is a very high-interest savings account. Most traditional savings accounts are closer to .06%
Chad Johnson
Maker
@james_mtc assuming you were referring to the comparison rate for bank interest on our calculator?
Eric Redline

Helps you save for your first home and rewards you with matching money!

Pros:

Cool interface and great product

Cons:

no alternatives except putting money under your mattress

Tony
Question: are you guys in development of a mobile app? The mobile site itself can sometimes be unresponsive - especially on the matching calculator scale.
Chad Johnson
Maker
@tonyyo11 we will be soon! If you wouldn't mind, could you send me an email with more details as to what you're having trouble with on the mobile site? chad@digs.co
Chris Bordeaux

Satisfied user

Pros:

- Easy to use (frictionless signup) - Simplifies a long-term process that most people procrastinate on - Great design

Cons:

None