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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 26 August 2023 Industry Update GUARANTEED RATE INTRODUCES ONEDOWN MORTGAGE G uaranteed Rate has introduced OneDown, a mortgage loan that features down payment options as low as 1% as well as an additional 2% contri- bution towards that down payment (or up to $2,000—whichever is lower). OneDown further offers borrowers a $1,000 contribu- tion toward lender fees. OneDown is available for real estate transactions involving Single Family Residences including condominiums. The program is especially intended for first-time borrowers or homebuyers with an AMI (Area Median Income) under 80%. No geographic restrictions apply. "OneDown is Guaranteed Rate's response to the ongoing effect of stubborn inflation and higher interest rates," said Kate Amor, SVP and Head of Enterprise Products for Guaranteed Rate. "We want to not only make homeownership less intimidating but make it possible for more families by offering down payment options as low as 1%." According to a recent study covered by the New York Post, only 53% of Americans are confident in their ability to own a home someday. Surprisingly, the same study also found that 40% of those surveyed felt that hitting the jackpot is their best chance to be able to afford homeownership. By removing the need for a big lump sum in the form of a down payment, Guaranteed Rate helps to offer an affordable option to po- tential buyers that dream of homeownership. Amor also notes that seller-paid tem- porary buydown options may be available for borrowers, offering additional flexibility through lower rates and payments in the ear- ly years of the mortgage. This program also boasts reduced mortgage insurance coverage to help lower payments and can be combined with community second programs for addi- tional assistance for eligible borrowers. Guaranteed Rate is dedicated to uplifting potential homebuyers and giving them the tools to build a brighter future for themselves and their families through financial security with affordability programs like OneDown. MLSS JOIN CUBICASA TO ENHANCE REAL ESTATE LISTINGS C ubiCasa, a real estate software com- pany, has announced the addition of 10 Multiple Listing Service (MLS) organizations to its rapidly growing MLS Pro- gram. This significant expansion reinforces CubiCasa's commitment to revolutionizing the real estate industry by making floor plans an integral part of every U.S. listing. The latest MLS organizations to join the program, which launched in December, are Bay Area Real Estate Information Services, Colorado Real Estate Network (CREN), Central Jersey MLS, MiRealSource, Buffalo Niagara MLS, Classic MLS (Athens Area Association of Realtors), Big Sky Country MLS, Cooperative Arkansas Realtors MLS, St Augustine & St Johns County Board of Realtors, and the Central Texas Multiple Listing Service. With these partnerships, CubiCasa's MLS Program has now reached more than 20 participating MLSs. The partner list includes some of the nation's largest MLSs, including Bright MLS, Georgia MLS, the Houston Association of Realtors, and many others. "Consumers are better informed when they can visualize a property floor plan and its dimensions before making an offer," said Karen Holmgren, CEO and President of Bay Area Real Estate Information Services. "CubiCasa's technology empowers our agents and local real estate photographers to easily create floor plans and add them to their listings." Central Jersey Multiple Listing Service CEO, Richard Steinberg, expressed his en- thusiasm for the partnership, stating, "We're