While the housing market has improved over the years, there is still a lingering fear that people have which is leading too many qualified homebuyers to rent instead of buy. To ease this fear 1st Advantage Mortgage has a new product to offer that will boost your confidence in buying a home called 1st Advantage Value Guard™. This product will protect the value of your home in the event of a housing market decline.
“With 1st Advantage Value Guard™ there’s no need to fear another downturn in real estate market values. 1st Advantage Mortgage has always been a different kind of mortgage provider. We recognize that behind every loan is a person, a family and a dream that deserves protection from a real estate market over which they have no control. We look forward to providing property value peace of mind to all our clients.” – Paul Lueken, President of 1st Advantage Mortgage.
Homeowners get the benefit of being able to sell their home faster and sell closer to the original listing price. Additionally, they get the advantage of financial protection, regardless of what they may end up reselling the house for in the future. With 1st Advantage Value Guard™ homeowners are paid when their property is sold if the local real estate House Price Index (HPI) has declined. You determine the coverage amount, up to $2 million, as special underwriting is required if the amount is over $2 million.
At time of contract, 1st Advantage Value Guard™ uses the House Price Index (HPI) provided by the Federal Housing Finance Agency at www.fhfa.gov to determine market movement for future claim payments. After a two year waiting period, 1st Advantage clients can sell their home for a profit or loss and still be eligible to receive a check if their local House Price Index (HPI) has decreased.
Financing is available for up to 60 months and there is a one-time contract fee of 1.9% of the stated protection amount. However, if a mortgage loan is closed at the same time on the covered property, 1st Advantage Mortgage will discount the contract fee by 0.4% of the mortgage loan amount.
1st Advantage Value Guard™ protects the value of your home from future local market fluctuations for up to 15 years, with the waiting period for the first two years. Homeowners will be eligible to file a claim to recoup up to 20% of their original protected value amount when they sell their home.
Now there will never be a wrong time to sell your home as you will have peace of mind with 1st Advantage Value Guard™ protecting your investment.•