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Gateway Mortgage Group has introduced Downpayment Protection, designed to help its customers who may be forced to sell their homes in a difficult market environment.
According to the Jenks, Okla.-based company, the new program, offered through ValueInsured, provides borrowers with an optional insurance feature that can minimize market risk on the value of their home and safeguard some, or all, of their downpayment. For example, if the market price drops and the home has to be sold for at a loss, the program enables to borrower to receive up to the full amount of the downpayment in a turn-key, home inspection-free process usually taking 30 days or less.
“Our primary focus is to deliver the highest level of service to our customers through local, caring mortgage professionals across the nation,” said Gateway President Alan Ferree. “By offering this Downpayment Protection Program, we will be able to provide our customers with added flexibility, control and confidence in their journey to homeownership.”
