Down Payment Protection

You’ve worked hard to save for the down payment on your new home and you deserve to know that you won’t lose that money if the housing market changes. That’s why we offer down payment protection at no extra cost on some of our mortgage programs. It protects up to the full amount of your down payment in the event that you have to sell your home for a loss during a down market. With down payment protection you'll reduce the risk of buying a home while enjoying peace of mind, knowing that your money is safe.  

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How Does Down Payment Protection Work?

Down Payment Protection is like an insurance policy for your down payment. It protects you from losing all or part of your initial down payment investment if you have to sell your home for a loss when the housing market is down. Say you buy a home using an $8,000 down payment. Then 4 years later you need to sell the home for some reason, like relocating for a new job or upgrading, but the housing market is down. Without down payment protection you’d likely lose your entire $8,000 investment, but with down payment protection you could recover up to the entire amount of your $8,000 down payment.

 

Down Payment Protection Details

  • Your coverage lasts for 7 years from the date that you purchase your home

    • There is a 24 month waiting period to submit a claim

  • The maximum amount you can be reimbursed is the lesser of

    • 20% of the purchase price of your home or

    • $200,000 dollars

  • New and existing single family homes and condos are eligible for coverage

  • The home must be your primary residence

Wasatch Mortgage Solutions is a Logan Utah mortgage company and your Northern Utah home loan specialist. We focus on Cache Valley home loans, Logan Utah home loans, Cache Valley mortgages, and Logan Utah mortgages, but we love to help all customers in Utah and Idaho. We are a Logan Utah mortgage company that offers Northern Utah mortgage rates and Southern Idaho mortgage rates that can’t be beat. Utah home loans. Utah home loans. Utah home loan lender. Utah home loan lender. Utah mortgage company. Utah mortgage company. Utah mortgage company. Utah mortgage company. Utah mortgage company. Utah mortgage company. Idaho mortgage company. Idaho mortgage company. Idaho mortgage company. Idaho mortgage company. Idaho mortgage company. Logan Utah mortgage company. Logan Utah mortgage company. Logan Utah Mortgage company. Logan Utah mortgage company. Cache Valley Home loans. Cache Valley mortgage company. Cache Valley mortgage company. Cache Valley mortgage company. Southern Idaho mortgage company. Southern Idaho mortgage company. Southern Idaho mortgage company. Southern Idaho mortgage company. Southern Idaho home loans. Idaho home loans. Cache Valley home loans, Logan Utah home loans, Cache Valley mortgages, and Logan Utah mortgages. Wasatch Mortgage Solutions is a Logan Utah mortgage company that offers Northern Utah mortgage rates and Southern Idaho mortgage rates that can’t be beat. Down payment protection home loan, down payment protection mortgage loan, low down payment mortgage, low down payment home loan, no down payment mortgage, no down payment home loan.

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Calculate Your Down Payment Protection

The tool below will help you see how much of your down payment you could recover if home values were to go down.