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April 2024 » thefivestar.com 7 April 2024 M T E C H CLICK N' CLOSE ANNOUNCES ONE-TIME CLOSE PROGRAM TO ADDRESS HOMEBUYER CHALLENGES IN RURAL AMERICA C lick n' Close has announced its latest mortgage product: One-Time Close (OTC) loan pro- grams for government-insured mortgage products. This product is designed to aid homebuyers in rural America with down payment assistance, with availability in select markets. "Given current market conditions, affordability is the number one challenge among potential homebuyers," said Jeff Bode, Owner and CEO of Click n' Close. "As prospective borrowers venture further out from cities and traditional suburban markets, Click n' Close stands as a re- source, providing powerful financing tools for both wholesale lenders and borrowers to make homeownership possible." Click n' Close's OTC program offers 100% loan-to-value (LTV) financing covering land, construction, and closing costs, with no down payment or mini- mum investment required and the ability to finance the 1% USDA Guarantee Fee up to 101% LTV. 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 » Contingency account financing up to 10% PLANET HOME LENDING INNOVATION PRODUCTS ALLOW NEW HOMEBUYERS SKIP HOME SALE CONTINGENCIES P lanet Home Lending, LLC, has established a suite of innova- tive programs to enhance the homebuying experience. Planet Home Lending unveiled Purchase EDGE and Cash 4 Homes, which are designed to empower homebuyers to navigate today's competitive real estate market with ease. The program gives Planet's borrowers the ability to compete with all-cash offers and to enjoy a less stressful journey to move-up homeownership. "We understand the difficulty home buyers face in today's market," said John Bosley, President of Mortgage Lending at Planet Home Lending. "We set out to build novel programs to strengthen homebuyers to win competitions against multiple bidders and to perfectly coor- dinate timing on the sale of an existing home and the purchase of a new home." Cash 4 Homes Planet's Cash 4 Homes program is not just for current home- owners; first-time homebuyers can also use it to secure their dream home. Cash 4 Homes empowers homebuyers with the choice to waive traditional financing and appraisal contingencies. If the financing is delayed, the homebuyer has the securi- ty of a cash backup waiting at closing. Purchase EDGE for Homebuyers Purchase EDGE and Purchase EDGE Guarantee offer move-up homebuyers these advantages: » Guaranteed Buyer for Current Home: Ensures a smooth transition to the Magazine INTRODUCING The Five Star Institute's premier trade publications, DS News and MReport, have joined forces to become MortgagePoint. This new publication brings you the same exclusive news, features, interviews, and commentary you've come to expect from Five Star—now taken to the next level and all in one place. MortgagePoint is your one-stop shop for coverage of the full spectrum of mort- gage, from originations to default. Scan the QR code to sign up and learn more. THE INDUSTRY'S MOST VALUED PUBLICATIONS JOINING FORCES