Buyers Offered Down Payment Insurance
Realtor Mag Daily Real Estate News
Thursday, April 14, 2016
“An insurance company wants to help home buyers purchase more confidently, without the fears of a housing bubble looming over their investment. To sooth these fears, ValueInsured has a launched a first of its kind down payment protection plan. Company officials are touting its new protection plan +Plus as insurance for home equity.
CNBC offers up the following example of how the insurance works:
“Say you put 10% down on a $200,000.00 home. Your down payment is $20,000.00. You pay ValueInsured a onetime premium of about $1200.00 you are now insured for 7 years. 3 years in, your job transfer you and you have to sell, but the value of your home has dropped. ValueInsured pays you the amount of home equity lost, up to the full $20,000.00 down payment.