Click N ‘Close launches Down Payment Assistance Product
The program – called Smartbuy 5/1 Arm Down Payment Assistance Product – offers a first mortgage in addition to a repaid second mortgage.
The second loan can be applied to costs such as deposits, closing costs, prepaid costs or puiddowns.
Homebouwers have searched for more flexible financing tools as affordability pressure such as mortgage interest rates at buyers and new home sales remain flat.
“The Smartbuy 5/1 Arm DPA is built with builders in mind,” said Jeff Bode, founder and CEO of Click N ‘Close. “It offers a practical way to tackle affordability problems, giving builders a different tool to help buyers with confidence in the current market.”
Click N ‘Close has previously offered other downturns utilization programs and is also a provider of section 184 home loans for Indians.
The company is active in several states and serves consumers and mortgage assignments through wholesalers and correspondent channels.
