What is +Plus Down Payment Protection?
+Plus Down Payment Protection protects up to the full amount of the homebuyer’s initial down payment, in the event of a loss when you sell in a down market. Here’s how it works:
Let's say you bought a home for $300,000 and put 10% down, or $30,000. The bank is protected through PMI insurance for the $270,000 mortgage. However, your hard-earned $30,000 down payment is not.
You buy a home for $300,000
Fast forward 5 years later and for some reason you need to sell your home but its value is only $280,000, or $20,000 less than you paid. With Down Payment Protection, you'd recoup the $20,000 you'd normally have lost.
5 years later you have to sell at a $20,000 loss
Now you can be protected the same way the banks are protected when you get a mortgage... only with +Plus Down Payment Protection.
It's created for you,
the modern homebuyer.
Lenders protect themselves with title insurance, private mortgage insurance and homeowners insurance, all funded by you, the homebuyer.
Why shouldn’t you do the same?
Only +Plus covers you by protecting your down payment against unpredictable market losses, putting you back in control when life happens. With +Plus, it’s a great time to buy a home.