Enabling lenders to increase the size of their loan book responsibly by qualifying more applicants
By becoming an AffordAssist Approved Lender, together we can help our Next Generation into home ownership. Sometimes, things do change for the better.
‘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 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
We too have the view that it is not for a lender to resolve the deposit shortfall. This is a strong, but fair comment. AffordAssist deposit solution is a community centric approach.
AffordAssist provides a proven present-day deposit solution; a proprietary Deferred Deposit Agreement (DDA) between the property seller and buyer for the amount needed to secure a loan. …without increasing risk to the 1st mortgage lender. Yes, sometimes, things do change for the better
Put simply, AffordAssist replaces the need for the full cash deposit, 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.
The great Australian dream of home ownership is now possible, for everyone. Helping Our Next Generation into home ownership directly impacts on our social-fabric and economy.
With AffordAssist all settlements may be possible.
Join our panel. Become an approved AffordAssist Lender by offering AffordAssist Deferred Deposit Home loans.
Managing Risk
A Home Loan with an AffordAssist Deferred Deposit 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.
AffordAssist 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.
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?
Become an AffordAssist Approved Mortgage Broker
AffordAssist is pioneering a new term in lending: 𝗗𝗲𝗳𝗲𝗿𝗿𝗲𝗱 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗛𝗼𝗺𝗲 𝗟𝗼𝗮𝗻𝘀 – where the deposit balance is paid later, interest free.
Being accredited with AffordAssist is suitable for mortgage brokers that are seeking to tap into an existing-demand of applicants:
- An income BUT without the full-cash deposit;
- AffordAssist guesstimate 450,000 per year, with an income BUT without the full-cash deposit. By offering the AffordAssist Deferred Deposit Solution. Rather than applicants being forced to rent, may otherwise be locked out for several years, use expensive 2nd mortgage finance or select Shared Equity potentially losing up to 30% of the gained equity.
- With the full-cash deposit (savvy applicants),
- as per the phrase “cash is king” there are many situations where holding onto cash can be in the best interest of the applicant—whether for emergencies, health needs, supporting others, growing a business or consider timely opportunities. Keeping some of the cash provides both 𝗽𝗲𝗮𝗰𝗲 𝗼𝗳 𝗺𝗶𝗻𝗱 and 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗴𝗶𝗹𝗶𝘁𝘆. A lower deposit commitment can help applicants:
• Stay prepared for emergencies or health-related costs
• Support loved ones or other financial obligations
• Flexibility, keep cash available for investing or business opportunities
• Keep your cash compounding, not locked in walls
• Maintain funds (example, keeping $60,000 in cash) in an offset or high-interest savings account
- as per the phrase “cash is king” there are many situations where holding onto cash can be in the best interest of the applicant—whether for emergencies, health needs, supporting others, growing a business or consider timely opportunities. Keeping some of the cash provides both 𝗽𝗲𝗮𝗰𝗲 𝗼𝗳 𝗺𝗶𝗻𝗱 and 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗮𝗴𝗶𝗹𝗶𝘁𝘆. A lower deposit commitment can help applicants:
- Struggling to settle due to valuation and or other.
To increase your brand awareness, stickiness and ultimately increase loan settlements. Consider providing your loan applicants where possible with 𝗧𝘄𝗼 𝗔𝗽𝗽𝗿𝗼𝘃𝗮𝗹 𝗢𝗽𝘁𝗶𝗼𝗻𝘀—𝗡𝗼 𝗢𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻 – Potentially the same loan. 𝗧𝘄𝗼 𝗱𝗲𝗽𝗼𝘀𝗶𝘁 𝗽𝗮𝘁𝗵𝘀. One could make a big difference. A home loan with as little as 𝟭% 𝗰𝗮𝘀𝗵 𝗱𝗲𝗽𝗼𝘀𝗶𝘁, and receive an 𝗔𝗳𝗳𝗼𝗿𝗱𝗔𝘀𝘀𝗶𝘀𝘁 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗖𝗲𝗿𝘁𝗶𝗳𝗶𝗰𝗮𝘁𝗲 for the balance. And in today’s economy, this flexibility can be a game-changer.
AffordAssist offers to selected and higher skilled mortgage brokers the AffordAssist Approved status and symbol.
Two levels of engagement:
- Product training to offer the AffordAssist Deposit Certificate; and
- Next level 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.