Homebuyer's Advantage Home Loan Program

A standard 30-year fixed rate loan is great once you move into your first home. But overcoming the significant barriers to move from renter to first-time homeowner are often insurmountable.  The Homebuyer's Advantage Loan takes the preference of a fixed rate loan and adjusts the amortization schedule to benefit the loan qualification process.   Because increases are fixed on an annual basis, this loan is very easy for renters to understand.  This also allows the borrower to qualify for up to 30% higher home valuation thus removing one of the big barriers to first time homebuyer opportunities. 

Advantages & Features -

• Fixed Rate Loan – Nothing is subject to future market changes.
• Lower Payment Ratios (Debt to Income) 
• Higher Home Price Qualification Ceiling 
•      - Useful for preapproval letters
• A Familiar Payment Stream to the Borrower 
• Annual adjustments that are FAR LESS than average rent increases.  (1-2% vs. 5-9%) 
• Fixed Payments for the Life of Loan – No surprises! 
• No Negative Amortization or Interest Only EVER! 
• Fully amortized loan.  No balloon payments at the end of the loan. 
• Slightly Lower APR than Traditional 30-year Fixed Rate Loan 
• No prepayment penalties! 
• Standard TRID Disclosures 
• Can be used with common purchase structures: 
•       - PMI  
•       - Seller Carry Back 
•       - Down Payment Assistance Programs 
•       - Piggyback Loan Combination 

What We Do for Mortgage Lenders -

We are not competitors.  We are technology-oriented mortgage industry experts that want you to thrive. 

• Train Your Staff (as many sessions as agreed at no additional cost) 
• Provide a customized results page for calculations and details  
•  - Can be integrated directly into your LOS or marketing services 
•  - Calculated APR, payments, amortizations, increased borrower buying power, and more.  
•  - Compares fixed rate products and continued renting for marketing to borrowers. 
• We work with your document providers and staff to ensure accurate setup of payments and disclosures. 
• API available/included as part of the agreement that can integrate into your software to provide Compliant TILA/TRID Calculations and Borrower Presentations.  Save up to 6 months going to market!
• Assistance as needed for servicing personnel. -

NOTE: Calculation of the annual adjustments vary significantly as interest rates fluctuate.  In our testing we found ourselves adjusting recast rates and months, adjusting the annual percent, etc.   Our API now automatically performs these adjustments in fractions of a second to deliver immediate results to your borrowers and lending personnel.