For many first-time homebuyers, especially those in underserved communities, the journey to homeownership can be daunting. The challenge of saving for a down payment often becomes a significant barrier. To address this issue and help more people achieve their homeownership dreams, LoanDesk has introduced the Purchase Plus program, a special purpose credit initiative designed to make buying a home more accessible.

What is the Purchase Plus Program?

LoanDesk’s Purchase Plus program is specifically designed to support first-time homebuyers in underserved communities by offering up to $7,500 in credits to reduce mortgage-related expenses. This initiative targets specific census tracts in major cities, including Atlanta, Baltimore, Chicago, Detroit, Memphis, and Philadelphia—areas where financial assistance can have the greatest impact.

Eligible homebuyers can receive a base credit of $5,000, supplemented by an additional lender credit that equals 1% of the home’s purchase price, up to $2,500. This total of $7,500 can significantly lower the out-of-pocket costs associated with buying a home, making the process more accessible for those who need it most.

Why is Purchase Plus Important for Real Estate Agents and Clients?

For real estate agents, the Purchase Plus program presents a unique opportunity to assist clients who may have otherwise been unable to enter the housing market. By offering financial support that directly addresses the issue of down payment savings, agents can broaden their client base and help more people realize their homeownership goals.

From a client’s perspective, the program not only alleviates financial stress but also simplifies the home-buying process. Many first-time buyers are unaware of the resources available to them, and the Purchase Plus program provides a tangible solution that can help turn the dream of homeownership into reality.

Expanding Homeownership and Building Stronger Communities

LoanDesk’s commitment to expanding homeownership goes beyond the Purchase Plus program. The company has a history of developing initiatives that support both real estate agents and clients. By making homeownership more accessible, LoanDesk helps build stronger, more stable communities, which in turn benefits the broader real estate market.

Moreover, the Purchase Plus program’s inclusive eligibility criteria mean that more people can benefit, regardless of income level. This broad accessibility allows agents to confidently recommend the program to a wide range of clients, knowing that it could be the key to overcoming one of the most significant barriers to homeownership.

How to Leverage the Purchase Plus Program

For real estate agents, the Purchase Plus program is a valuable tool that can help close more deals and expand your client base. By informing potential buyers about this program, you can position yourself as a knowledgeable and resourceful agent who is committed to helping clients achieve their goals.

For clients, this program offers a straightforward way to reduce the costs associated with buying a home. If you’re a first-time buyer in one of the six target cities, the Purchase Plus program can provide the financial boost needed to make homeownership a reality.

Learn More and Get Started Today

Whether you’re a real estate agent looking to assist your clients or a first-time homebuyer eager to take the first step toward homeownership, the Purchase Plus program offers valuable support. To learn more about how this program can benefit you or your clients, visit LoanDesk’s official website or contact a LoanDesk representative today.