In what appears to be a first for the mortgage-lending industry, Neat Capital, a Boulder, Colo.-based financial technology company, said Wednesday that vaccinated clients can receive a $500 discount on home financing through its digital mortgage-lender entity, Neat Loans.
“We believe Neat is the first financial services company to offer a substantial $500 discount to our applicants who have received a Covid-19 vaccine,” said Luke Johnson, CEO of Neat Capital. “Mortgage lenders need to have important conversations with their clients about the homebuying process and their vaccine status as it relates to employment. This is partly due to responsible companies requiring employees be vaccinated to keep workplaces safe, and employment status is critical when trying to fund a home loan.”
On it’s NeatLoans.com website, the company said it believes vaccinated individuals “are making a crucial impact on the wellbeing of our community.”
The $500 discount on closing costs is available for residential purchase or refinance mortgage loan applications, Neat said. Borrowers can present any digital or electronic picture of a vaccine record, and applicants are eligible regardless of which vaccine they received or the number of doses.
To ensure equal access among all individuals, Neat said it will make the lender credit available to unvaccinated borrowers who attest that they are unable to be vaccinated due to health status or religious reasons.
For individuals who wish to be vaccinated but have been unable to do so due to healthcare accessibility, vaccine cost, childcare availability, or transportation costs, Neat said it will ensure borrowers can access the vaccine for free to receive the credit. A borrower must have submitted a loan application with Neat to have the costs covered.
Neat Capital Inc. is a financial services technology company that offers clients residential home financing, both directly and as partners with Fortune 500 companies, the real estate and wealth management communities, and banks.
