Click n’ Close, a multi-state mortgage lender, has launched a 5/1 ARM Down Payment Assistance (DPA) product designed specifically to help home builders address affordability concerns and support new home sales.
With the National Association of Home Builders (NAHB) reporting that new home sales remain flat amid persistent affordability pressures, builders are seeking financing programs that make it easier for buyers to purchase new homes.
Click n’ Close’s SmartBuy 5/1 ARM DPA program combines a competitive ARM first mortgage with a repayable second mortgage that can be applied to down payments, closing costs, prepaids or rate buydowns.
This structure enables builders and their lending partners to present buyers with more approachable monthly payments and lower upfront barriers.
“The SmartBuy 5/1 ARM DPA is built with builders in mind,” says Jeff Bode, founder and CEO of Click n’ Close, in a release. “It provides a practical way to address affordability concerns, giving builders another tool to help buyers move forward with confidence in today’s market.”