Mortgage lender Click n’ Close reports that its SmartBuy Shared Appreciation Mortgage (SAM) program now features a 30-year, fixed-rate conventional option approved by Freddie Mac.
“Regardless of what is admittedly a difficult market for buyers, our SmartBuy Shared Appreciation Mortgage tool puts homeownership in reach for people who may not have thought it possible,” says Jeff Bode, owner and CEO of Click n’ Close, in a release. “Buyers can increase their financial stability and realize the benefits of what is, for most Americans, the largest investment of a lifetime.”
Launched in April 2024, CNC’s SAM program offers a below-market interest rate for first-lien FHA, USDA and now conventional loans and a repayable DPA second lien in exchange for a portion of the home’s appreciation during the first five years.
After the five-year accumulation period, the shared appreciation amount is added to the second lien and amortized over the remaining term. The program has no restrictions on first-time purchases or income levels.
“CNC’s Shared Appreciation Mortgage program (SAM) combines with the DPA SmartBuy program to provide homebuyers with additional flexibility, helping them secure a home with minimal upfront costs while benefiting from shared appreciation in the property’s value over time,” Bode adds. “Having a conventional option in addition to FHA and USDA simply helps make homeownership more accessible for a broader range of buyers.”