MANCHESTER, N.H., Sept. 30, 2020 /PRNewswire/ -- Home Diversification Corp., a startup Fintech financial product provider, today announced they are in advanced talks with a number of mortgage lenders, banks and investment companies regarding partnering to introduce their newly created Home Diversification Mortgage. The first-of-its-kind product will provide millions of non-conforming homeowners the never before available benefit of a low-down payment/no PMI mortgage. It will save homeowners an average of $160 monthly, while delivering "peace of mind" equity protection made available through the use of the Company's proprietary home diversification model.
The Home Diversification Mortgage is a financial contract that can be purchased at mortgage origination or any time thereafter by existing homeowners. It is recorded as a junior lien on the property and qualification is quick. It provides a new form of credit enhancement, virtually eliminating credit risk to lenders and the GSEs. HDC believes it will be accepted within the home finance industry, driven by consumer demand as the public becomes aware of this new mortgage type. It will supplant the need for tens of millions of non-conforming home buyers to purchase expensive PMI in order to qualify for financing.
The product provides homeowners the ability to diversify their largest asset (home), essentially spreading their eggs from one basket (local market) to many nationwide. It enables homeowners to exchange their local-market home price index (more volatile) for a broader, more stable nationwide HPI. Doing so substantially reduces their home-price value risk, as well as that of foreclosure.
Additionally, it guarantees diversified national home price appreciation, provides a mortgage payment protection feature for events such as job loss, disability, death, divorce, etc., and helps keep the homeowner in their home during times of financial distress.
"Our new mortgage addresses the all-important issue of affordability, enabling tens of millions of homeowners to save an average of $160 monthly and providing the potential for reduced interest rates," states Marc Biron, Home Diversification Corp founder and CEO. "This should prove especially beneficial to groups that have been unfairly neglected in the past, such as minorities and low-income families. This product also provides the myriad benefits of diversification, allowing homeowners to make that purchase with peace of mind."
Check out the Company's just published article focused on their Home Diversification Mortgage, explaining what it is and how home buyers will benefit. It can be found here. You can learn more by visiting Diversify My Home. Contact us today at 833-844-4663.
HDC is a Manchester, NH-based Fintech company. Creator of the newly established Home Diversification industry, their consumer site DiversifyMyHome.com, and their exclusive Home Diversification Mortgage. They provides solutions that help solve all-important issues of affordability, diversification, and risk reduction for homeowners.
SOURCE Home Diversification Corp