ADDISON, Texas, Apr 16, 2024 (SEND2PRESS NEWSWIRE) — Click n’ Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, announced it has expanded its suite of down payment assistance (DPA) loan products to include a shared appreciation option to help address the affordability challenges facing homebuyers.
“It’s no secret that the combination of rising interest rates, limited inventory and growing property appreciation have made it more difficult for potential homebuyers to purchase in today’s market. While existing homeowners have benefitted tremendously from skyrocketing home equity, that same trend has put buyers at a tremendous disadvantage,” said Click n’ Close Owner and CEO Jeff Bode. “By combining our proprietary DPA programs with a shared appreciation option, we’re not only helping buyers get into a home more easily but also reap the benefit of homeownership from day one.”
Click n’ Close’s DPA with Shared Appreciation program offers a below-market interest rate for first-lien FHA and USDA loans and a repayable DPA second lien in exchange for up to 40% the home’s appreciation during the first five years. After the five-year accumulation period, the shared appreciation amount is added to the second lien and amortized over the remaining term. Program rates start at 4.75% for a 5-1 adjustable rate mortgage (ARM).
DPA with Share Appreciation is available through Click n’ Close’s retail and wholesale divisions. To learn more and check availability in your market, reach out to Devin Dubuc for retail and Soliman Martinez, Adam Rieke or Kerry Webb for wholesale.
About Click’ n’ Close, Inc.
Click ‘n’ Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation’s leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click’ n’ Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.
Combining this culture of innovation with a risk management mindset enables Click’ n’ Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click’ n’ Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click’ n’ Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.
Learn more at https://www.clicknclose.com/.
News Source: Click n’ Close Inc.
Related link: https://www.clicknclose.com/
This press release was issued on behalf of the news source, who is solely responsible for its accuracy, by Send2Press Newswire. To view the original story, visit: https://www.send2press.com/wire/click-n-close-expands-dpa-mortgage-product-suite-to-include-option-for-shared-appreciation/
