Helping our Partners Realize Success
In creating The Heart Program we realized some important factors; the first is the securitization that our Program Partners would require and second is the Return on Investment needed in order to make the program appealing to the Program Partner community. In order to accomplish this, our program takes into consideration the qualifications of the seller who will subsequently be leasing the property, as well as the condition of the property. Our Underwriting Guidelines typically conform to Conventional and FHA underwriting guidelines and in many cases exceed them. Each property has a full 1004 Interior/Exterior inspection completed on the property prior to acceptance into the program and all homes must be in a marketable condition. All transactions have a Home Warranty placed on the property to insure both the Program Partner and The Heart Program does not have to come out of pocket for major repairs; these along with other safeguards makes our program worthy of consideration.
The next factor is the Return on Investment each Program Partner needs as well as the manner in which the property is acquired; these are done in order to protect both the partner’s rate of return and the security which is the property itself. Our goal is to maximize the return each partner can expect; we realize that to do this we must provide several different revenue streams on the same transaction. Partner’s can expect a monthly premium as well as a substantial return once the property is sold. In order to maximize yields we keep the program to a maximum of 36 months with a closing incentive to each homeowner who purchases back their property within the first 24 months. These features allow for maximization of each partner’s funds as well as keeping the time to a minimum in which the partner’s funds are in use.