Mortgage lender woos millennial buyers with one-month’s supply of free avocado toast

Alice Day / EyeEm | Getty Images

It turns out you can have it all: a home of your own and your regular avocado toast.

For the entire month of July, wealth management firm SoFi will award anyone who takes out a mortgage through the service a month's worth of avocado toast, delivered straight to their door.

The gimmick is a tongue-in-cheek response to the viral comments of 35-year-old Melbourne millionaire and property mogul Tim Gurner, who asserted on a recent episode of Australia's "60 Minutes" that spending too much on avocado toast is the reason millennials can't afford to buy homes.

This 30-year-old just saved $6,000 by learning how to cook

He scolded the younger members of his generation for their unrealistic, YOLO "expectations" and for spending too much on indulgent lifestyles early on in their careers.

"When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each," he said. "We're at a point now where the expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year."

Millennials should be putting every spare penny into savings, not blowing it on lattes and brunch, Gurner said, implying that young people could not both own property and splurge on Starbucks.

The income you need to afford a home in the biggest U.S. cities

SoFi, like many others, believes Gurner is wrong.

"Pundits have unfairly besmirched avocado toast as the reason younger Americans aren't buying homes," says Joanne Bradford, Chief Marketing Officer at SoFi. "We know that's wrong — it's because the traditional mortgage product hasn't evolved."

Through the promotion, SoFi hopes to show millennials that home-ownership is possible.

"In addition to offering a mortgage with 10 percent down and no borrower-paid private mortgage insurance required, we wanted to help people have their avocado toast and eat it too," Bradford says.

Like this story? Like CNBC Make It on Facebook.

Don't miss:

Millionaire tells millennials: If you stopped buying avocado toast, you could afford a home

Here's how much housing prices have skyrocketed over the last 50 years in every US state

The salary you need to afford a home in 20 major US cities

Travel is not going to solve your problems, millennials
Related Video
The income you need to afford a home in the biggest U.S. cities