Next Generation Home Mortgage Product Can Reimburse Homebuyers if They Need to Sell at a Loss in the Future
FAIRFAX, Va., Feb. 9, 2017 – First Heritage Mortgage today introduced Mortgage +Plus, an innovative mortgage product that protects a homebuyer’s down payment, available immediately on all applicable First Heritage mortgages. Mortgage +Plus will include +Plus down payment protection by ValueInsured embedded directly into buyers’ mortgages. With exclusivity in Washington, D.C., Maryland, Virginia and North Carolina, First Heritage Mortgage is the first mortgage lender to offer this protection to homebuyers in the region.
With Mortgage +Plus by First Heritage Mortgage, homebuyers may safeguard their down payment and buy with confidence. Even if they need to move and real estate market values are down when they sell, up to the full amount of their down payment may be covered and, if all program requirements are met, any potential loss would be reimbursed.
“At First Heritage Mortgage, our priority is to empower our customers to buy their dream homes. We’ve been seeing hesitations due to today’s transient lifestyle and uncertainty in the housing market,” said Alex Wish, President of First Heritage Mortgage. “To help our customers buy a home with confidence, we realized that the one thing we can do is assure them that their down payment will be protected. ValueInsured has created a truly innovative product and we’re thrilled to be the exclusive mortgage lender offering down payment protection in the Mid-Atlantic region.”
“Determined to provide security for today’s homebuyer, we created the first product that protects the homebuyer, the same way private mortgage insurance has been protecting the banks for years,” said Joe Melendez, CEO of ValueInsured. “First Heritage Mortgage has always been one of the best in mortgage financing services, which is why we’re excited to partner with them on a next generation mortgage product that provides today’s modern homebuyer with the flexibility and mobility of renting, but with the freedom, pride and investment value of owning a home.”
Launching new sales and marketing campaigns to support loan officer, realtor and builder relationships, First Heritage Mortgage has also released a new website to support and address the needs of modern homebuyers and their agents. First Heritage Mortgage services the entire Mid-Atlantic region with offices in Fairfax, Charlottesville, Richmond and Woodbridge, Va; Bethesda and Prince Frederick, Md.; and Raleigh, N.C.
“While Americans want to own a home, many have been comfortably renting for the past 10 years because of the flexibility it’s provided them,” said Wish. “We’re proud to be able to provide our customers with great financing to buy their home as well as peace of mind knowing that with Mortgage +Plus the personal investment in their home can be secure regardless of where life takes them.”
To learn more about purchasing a home with Mortgage +Plus protection, and for details on program requirements, visit fhmtgplus.com or call (866) 833-LOAN to speak with a First Heritage Mortgage loan specialist.