Click n’ Close Launches New Program to Address Home Buyer Challenges in Rural America


Click n’ Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, has launched a new product is designed to aid homebuyers in rural America with down payment assistance, with availability in select markets.

The new program, dubbed One-Time Close (OTC), is for government-insured mortgage products. It offers 100% loan-to-value (LTV) financing covering land, construction and closing costs, with no down payment or minimum investment required and the ability to finance the 1% USDA Guarantee Fee up to 101% LTV.

“Given current market conditions, affordability is the number one challenge among potential homebuyers,” says Jeff Bode, CEO of Click n’ Close, in a release. “As prospective borrowers venture further out from cities and traditional suburban markets, Click n’ Close stands as a resource, providing powerful financing tools for both wholesale lenders and borrowers to make homeownership possible.”

Other product features include flexible debt-to-income ratios; eligibility for credit scores of 640 and above; no prepayment penalties; first-time homebuyer eligibility; absence of required reserves; seller/builder concessions up to 6%; utilization of eligible gifts for closing costs; and contingency account financing up to 10%.

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