Enabling lenders to increase the size of their loan book responsibly by qualifying more applicants
Expand your clients’ options. Join us in our mission to expand access to home ownership by pairing your home loans with the AffordAssist Deposit Certificate
‘Here is an enthusiastic First Home Buyer who is qualified for your lending services…’
Just sit back for a minute and imagine… How many First Time Buyers are out there right now with a partial deposit? Are you confident that they will still be thinking of your brand in three or four years’ time when they have saved their full deposit?
Don’t let that buyer become someone else’s client. You can choose which of your lending services you want to make available to our qualified First Home Buyers.
Become an approved AffordAssist Lender and start offering an Affordable Deposit Solution.
It has always been about the DEPOSIT
Housing Affordability is an Australian Legacy
One of our housing affordability heroes is Sir Robert Menzies (click here to read related article) and of course the government at that time introduced; Housing Policy in 1963 which included Lenders Mortgage Insurance (LMI). This provided a lender the means to protect the loan funds for loans above 80% LVR. And for a buyer to purchase with less than 20% deposit.
In our view, this was and still remains one of the greatest deposit solutions for housing affordability.
AffordAssist provides a present-day deposit SOLUTION
AffordAssist delivers housing affordability through social enterprise. …without increasing risk to the 1st mortgage lender. It is a mission-driven, innovative home-loan and property-deposit solution that rethinks what a deposit can be, enabling homeownership sooner.
AffordAssist ‘adds to’ and ‘fits perfectly’ into the existing lending and property contract of sale processes. The industry-leading governance enables better outcomes for all stakeholders and includes both the:
Loan settlement – Deposit Certificate, confirms adherence to the governance process and is critical to settle the home loan. Forms part of funds to settle; and
Property settlement – Deferred Deposit Agreement (DDA) to manage the balance of the deposit payments to settle the property and provide stakeholder protection.
Put simply, AffordAssist replaces the need for the full cash deposit, with a proprietary DDA between the property seller and buyer for the amount needed to secure a loan. Making it possible for purchasers to buy today with an initial part-deposit and to pay the balance of the deposit most typically within 60 months, and always without interest. Property purchasers will have 100% ownership of the title.
With AffordAssist all settlements may be possible.
Managing Risk
A Home Loan paired with an AffordAssist Deposit Certificate can reduce mortgage stress by reducing the loan amount and thousands on interest payments. And is very likely to yield less risk. Because…
AffordAssist proven governance and core service fundamentals may be likened to Credit Risk Transfer (CRT) thus positioning the service as a viable home loan deposit solution for a lender and LMI.
AffordAssist industry-leading governance process personifies longevity: It is not just about buying the property it is also about keeping it, thus clients being in the best position to create generational wealth and, buy another property. Read related articles:
- How Can I Borrow Smarter? High LVR Loans vs Home Loans Paired with AffordAssist
- The Critical Half of Housing Affordability: The Exit
NO Home Loan should be settled without AffordAssist. Please contact us for details.
Value to your brand and loan book
Overlay the following against your actual business to estimate the real value; noting potential for improving efficiencies into commercial outcomes. Additionally a new untapped market to increase the mortgage market pie by offering AffordAssist deferred deposit home loans.
With AffordAssist you will:
- Increase the number of loans you can approve, by offering a solution for the loan deposit that makes it possible for the residential property purchasers to secure a loan and buy today
- Build stronger and deeper relationships with your brokers, by offering your broker's a process to help their clients achieve homeownership earlier and to build loan portfolios for multiple properties
- Protect against your loan applications from failing to settle due to the valuation being lower than anticipated or other unforeseen challenges. With AffordAssist all settlements may be possible
- Reduce the LMI premium or risk fee
- Alleviate the potential impact of current market volatility in Interest Rates, by extending AffordAssist terms, thus reducing the overall monthly payments
- Reduce risk, the AffordAssist governance process and Stakeholders Fund, monies are set aside to protect all the stakeholders and reduce LMI risk
- No need for Cashback incentives, saving between $1,000 to $5,000 (or more); offering a Home Loan with AffordAssist is Life Changing
- Build your brand equity, by becoming AffordAssist Approved to offer an innovative and affordable housing deposit-solution; enabling your brand to engage with all buyer profiles from affordable housing to those seeking wealth creation.
Improving efficiencies and procuring new clients may result in billions of dollars. Specifically for your brand with AffordAssist, is the bottom line 10% better off or more?
Home Loans Paired with AffordAssist
AffordAssist is pioneering a new term in lending: 𝗗𝗲𝗳𝗲𝗿𝗿𝗲𝗱 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗛𝗼𝗺𝗲 𝗟𝗼𝗮𝗻𝘀 – where the deposit balance is paid later, interest free.
AffordAssist enables your brand to expand your clients’ options, helping them secure a home loan with as little as 1% cash upfront. This first-of-its-kind, flexible deposit-structuring solution adapts to the buyer’s situation — without needing the traditional full deposit from day one and can adjust to valuation variances, making more settlements possible.
Your loan applicants can achieve sustainable ownership, reduce the loan amount and save thousands in interest over time, and faster equity growth. Read related article: Compare the Lowest Home Loan Interest Rate to Interest-Free
Two levels of engagement:
1. Accredited: Product training to offer the AffordAssist Deposit Certificate.
- AffordAssist DEPOSIT CERTIFICATE – one of the most innovative deposit solutions in decades
2. Approved: Next level offered to selected and higher skilled brokers seeking the AffordAssist Approved status and symbol. Potential to be assigned pre-qualified applicants.
- The AffordAssist framework includes systems, governance process and coaching. Please ask for detailed PDF
- AffordAssist DEPOSIT CERTIFICATE – one of the most innovative deposit solutions in decades
- view Comprehensive Product training
- view sample Product Page that can be co-branded
AffordAssist help with the first home buyer deposit. Replace the need for the typical cash deposit with our innovative deferred deposit solution. AffordAssist is your new way to buy your first home today, defer and pay the deposit later.