Down Payment Protection? No way, but it's true.

By
Real Estate Agent with RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident BRE# 01215778
https://activerain.com/droplet/4L85

Housing Wire Mortgage Opportunity  Forecast gave 4 reasons why 2016 will be a good year to purchase a home.  Reason number 4 has been cut & pasted from this forecast.  This will be a game changer once implemented.

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4. Down payment protection will be available

Writing a check for a down payment on a home is often one of the largest investments someone will make. Down payment protection is a new option that can give modern homebuyers the flexibility they need to more confidently and securely buy a home. When homebuyers put less than 20% down at closing, this kind of coverage protects their down payment just like private mortgage insurance protects the bank.

Given that the average employee tenure in the U.S. is 4.6 years overall, and 3 years for millennials, it’s understandable that the modern homebuyer may be nervous to commit to living in one location for an extended period of time.

However, the current state of the market and these major mortgage changes will help to ensure that when life happens, the homebuyer won’t be completely out of luck when it comes to protecting their nest egg.

5. Why we should be working together... 

Call 661-510-7975 Email us at tonyglewis@yahoo.com to discuss reasons 1-3 see if #4 works for you and the reason we blog is to share information and earn your business.  Reach out to us to see the benefits of working together.

Your Friends & Realtor,

Tony & Dani Lewis

RE/MAX of Valencia

www.tonylewis.com

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Location:
California Los Angeles County Santa Clarita
Tags:
realtor
down payment assistance
santa clarita
valencia
first time buyer
forecast
millenials
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2016
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tony lewis
down payment protection

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Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I prefer a FHA or PMI .....Uncomfortable with this program...

Sam

Nov 12, 2015 12:29 PM #1
Rainmaker
1,290,344
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Interesting.  I think this has potential in certain situations.  Any idea what the cost of this "protection" is?

Nov 12, 2015 02:10 PM #2
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Rainmaker
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Tony Lewis

RE/MAX Valencia, Stevenson Ranch, Santa Clarita
Home values are rising, want to know the value of your home?
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