Flex Down Mortgage Options
Unlock Homeownership Sooner
At Shawn Mooney - Mortgage Architects, I understand that for many potential buyers, earning a good income isn't the problem—saving a large lump sum for a down payment is.
A Flex Down Mortgage offers a strategic solution to this common hurdle. It allows qualified borrowers to use borrowed funds for their down payment, helping you enter the housing market and start building equity without waiting years to save.
What is a Flex Down Mortgage?
A Flex Down Mortgage enables you to purchase a home by borrowing your down payment from a lender-approved arm's length source. Instead of relying solely on personal savings or non-repayable gifts, you can utilize funds from sources such as:
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A personal line of credit
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A personal loan
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A credit card
This option is particularly beneficial for first-time home buyers who have a strong credit history and reliable income but have not yet accumulated the traditional 5% down payment.
Benefits of a Flex Down Mortgage
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Immediate Market Entry: The primary benefit is accessibility. You can stop renting and start owning sooner, regardless of your current savings balance.
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Flexibility: It allows you to leverage existing credit facilities to secure a real estate asset.
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Asset Appreciation: By buying now rather than waiting to save, you can benefit from potential increases in property value sooner.
Why Choose Shawn Mooney?
Flex Down mortgages require specific lender approval and strict adherence to insurer guidelines. You need an expert to navigate this process.
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Experience & Expertise: With over two decades of industry experience, I know exactly how to structure a Flex Down application for success.
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Lender Access: Not all institutions offer this program. I work with a wide range of lenders to find those that support borrowed down payments at competitive rates.
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Comprehensive Support: From pre-approval to closing, I provide full support, ensuring you understand the costs of borrowing your down payment.
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Mobile Service: Enjoy the convenience of professional advice that comes to you, with flexible hours to fit your schedule.
Mortgage Tools & Calculators
Contact Me Today
Ready to explore the Flex Down Mortgage option?
Contact Shawn Mooney at Mortgage Architects to learn more about how this innovative solution can help you achieve your homeownership dreams. Let me guide you through the process and ensure you get the best mortgage for your needs.
