“Although it is not the first program of its kind, RE/MAX Heading Home is the first that is available in all 50 states to any person or family currently renting and who has hoped to fulfill the American dream of owning a home,” said Liniger. “Even though homeownership in the U.S. is at an all time high of 69 percent, we believe there are large numbers of deserving people, such as military personnel, minorities and immigrants, who have the desire but not the resources or a plan to realize the benefits of owning their home. Now, there is a very simple way,” he proclaimed. “Those interested can go to the Website, www.remaxheadinghome.com to learn more and begin the process toward home ownership.”
RE/MAX Heading Home is a “membership” program which allows renters to earn “credits” based on current monthly rental payments. Mortgage lenders participating in the program will assist prospective homeowners with mortgage qualification and ultimately apply “earned credits” at loan closing.
In simple terms, a percentage of monthly rent is accrued as a credit against closing costs up to a maximum of one percent (and not to exceed $4,000 total) of the mortgage loan. And, when the renter member is ready to find that perfect home, a “matched” RE/MAX real estate agent will be assigned to assist in the search.
“We have been in ‘live’ testing with various future homeowners since early January to ensure that the Website and other communications tools are working properly,” said Christopher Volgenau, RE/MAX Heading Home vice president. “The feedback from participants has been wonderful and extremely positive. The real beauty of the program is that it doesn’t increase the monthly rent for those tenants who want to someday have their own home. RE/MAX Heading Home is designed for anyone who is currently renting anywhere in the United States. Becoming a member of this program takes a renter one step closer to realizing the dream of homeownership.”
Volgenau also added, “Because the credits build over the length of the renter’s occupancy, owners of multi-family apartments are excited to offer the program as a tool to attract and retain residents. We are very excited about how this can truly change the lives of thousands of people in the future.”
Membership in RE/MAX Heading Home requires a one-time only fee of $49.95 and an annual fee of $9.95 until the member purchases a home or drops out of the program.
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