Multi-state wholesale and correspondent mortgage lender Click n’ Close 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,” says Jeff Bode, owner and CEO of Click n’ Close, in a release. “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.
