Specialty programs at KFM
Addressing the needs of our borrowers is our number one priority at KFM. As the market changes, we adapt our programs and processes to put our borrowers in the best position to secure their dream homes. For example, we have designed programs to make our borrowers highly competitive in a seller’s market, which is the primary advantage of working with a flexible local lender. We can quickly adapt to the needs of the homebuyer and our realtor partners.
2/1 Buydown
Key Focus Mortgageoffers a 2/1 Buydown loan that allows you to ease your mortgage payments for the first two years of the loan. Simply stated, the 2/1 Buydown program enables you to pay a lower monthly payment for the first two years of the mortgage.
- The first year your payment will be based on 2% below the note rate.
- In the second year, your monthly payment will be based on 1% below the note rate.
- Your monthly payment will be based on the note rate for the remainder of the term.
If you are looking to buy a home and need to find a way to lower your monthly payments, the 2/1 Buydown program is a perfect option.
Appraisal Waiver Program
Key Focus Mortgage’s Appraisal Waiver program strengthens your offer. We have a tool that allows our borrowers to find out before making an offer on a property if they can waive the appraisal—no surprises for the borrower and no hassles for the seller. If our borrowers engage in a bidding war, they will have the confidence of knowing how high to bid without worrying if the house will appraise appropriately.
Cash Ready Plus Buyer
Our Cash Ready Plus Buyer program is a fully underwritten loan commitment that allows our borrowers to be pre-approved for a mortgage and make an offer to purchase a home that is the equivalent of a cash offer. If you complete a full application with your asset and income documentation, it will be reviewed by an underwriter, and you will receive a conditional loan commitment even without a property address. With this conditional loan commitment, you will know that you qualify for a loan, are in the correct loan program, know how much you qualify for, are comfortable with the estimated payment, and meet the loan approval guidelines.
Benefits of being a Cash Ready Plus Buyer:
- You become a more prepared home buyer!
- Your financed offer is now as competitive as a cash offer.
- Getting a home loan pre-approval shows the house seller your readiness to purchase.
- A pre-approval will give you an idea of the loan amount you can get approved for, which can save you time and effort by avoiding shopping for loans that are out of your price range.
- Once the seller accepts your offer, you can improve your closing time by being pre-approved because most of the upfront work is completed!
- As a Cash Ready Plus buyer with a fully underwritten pre-approval, you will be confident knowing what your best offer is.
- Your Cash Ready Plus pre-approval is valid for multiple properties until your offer is accepted.
A mortgage pre-approval is critical when buying a new home, and MEP’s Cash Ready Plus program will give you a significant advantage in your homebuyer journey.
Fast Track Underwriting
Fast Track Underwriting puts our borrowers on the fast track to homeownership. All our borrowers need to do is apply for a loan with one of our loan officers and provide all the required documents, and their loan will be expedited to underwriting. MEP guarantees a 24-hour turnaround time on all complete loan files. Having the basics of the loan approval process completed quickly makes your offer more competitive and puts your mind at ease that the basics of the loan approval have been completed.
First Responders Lender Credit Program
We are dedicated to serving our first responders’ housing needs. Key Focus Mortgage has an exclusive program that helps build communities while also making “home” more affordable exclusively for those who give so much to others by providing a $500.00 lender credit. This lender credit can be used towards the closing costs of a purchase or refinance transaction. The following occupations are eligible:*
- Active Military – All Branches
- National Guard- All Branches
- Fire Fighters
- Law Enforcement
- Paramedics/EMS
- 911 Dispatchers
- Physicians, Physicians Assistants, Nurses, Medical Technicians, Medical Lab Personnel
* Employment verification will be required.
Instant Equity/Bridge Loan
Instant Equity/Bridge Loan- Key Focus Mortgage’s Instant Equity Program will make your offer more competitive by removing the home sale contingency. Our instant equity or bridge loan program allows you to access your home equity fast for a down payment on a new home. When you find the home you want to purchase, no new qualification is required, and funds are sent directly to the closing.
The Instant Equity Program can be used to purchase a new primary residence. Eligible property types include; 1-4 unit homes, PUDs, and some manufactured homes and condo units. You get 180 days to sell your current home and repay the loan. The instant equity/bridge loan is an excellent strategy in a highly competitive seller’s market when inventory is tight.
Lock to Shop
Key Focus Mortgage’s Lock to Shop program will give you peace of mind by locking in your rate as you shop for a new home. You will be protected from market rate increases as you are house hunting. You will receive a fully underwritten loan commitment from our underwriting team, making you a more competitive buyer and the loan process easier when you officially apply. If the rate has dropped during your home search, you will have a one-time option to modify to the lower rate.*
* Interest rate must be lower than .25 lock to shop rate.
Rate Protection Plus (RPP)
Key Focus Mortgage’s Rate Protection Plus program is ideal for borrowers who want to purchase a home today but are concerned about fluctuating mortgage interest rates. The RPP program allows borrowers to buy today at current rates, and if the rates drop, they can refinance using a $2000.00 closing cost credit from their loan officer.
Eligibility for the RPP program is broad, covering rate and term, and cash-out refinance transactions. It can be used on most property types. Upon qualification, you’ll receive a certificate for a $2,000.00 closing cost credit, to be used for a refinance after six months but before 18 months from the initial purchase transaction.
Act now to take advantage of this limited-time offer. Contact our loan team today to learn more about the RPP program and secure your future home at today’s rates.
- Consult with your MEP Loan Officer about our loan process
- Get a fully underwritten pre-approval using our Cash Ready Plus Program to shop confidently for your new home
- Make your offer and find your new home. Receive your RPP refinance certificate
- If rates drop, refinance quickly, with significantly lower fees and an additional closing cost credit of $2,000.00
- After the borrower closes you will have up to 18 months to refinance with KFM
To qualify for RPP, you must have:
- used KFM for your home loan when you purchased the property for which you are now refinancing and
- closed your refinance loan for the same property after six months but before 18 months using KFM as your lender and;
- you must be qualified for the refinance mortgage loan and meet all of KFM’s underwriting standards (including those related to the subject property of the refinance) independent of your previous qualification when you purchased the property.
This program is for rate and term refinance or cash-out refinance. RPP is not a commitment to lend. KFM reserves the right to cancel or modify this program at any time. The borrower must present a certificate issued by a Key Focus Mortgage Loan Officer at the time of the refinance application. This program expires on 3/31/25.
