INDIAN LAND, S.C. – Movement Mortgage (Movement), the nation’s sixth-largest retail mortgage lender, is excited to launch Movement Purchase Advantage, a new home financing program that addresses the uncertainty homebuyers may have in today’s economic market.
Movement Purchase Advantage is a low cost refinance program that allows customers to refinance a home loan with no lender fees if they purchase the home before March 31, 2023, and refinance before December 31, 2024.
Movement Purchase Advantage allows buyers to confidently purchase a home now and, when rates drop, refinance their loan without paying additional lender fees. The program provides borrowers approximately two years of rate flexibility, meaning they’ll be able to choose the interest rate that makes sense for their particular financial situation at any time within the program period.
“The most common reason to refinance is to lower monthly mortgage payments.* And while this can shave thousands of dollars in interest over the life of a loan, the cost to refinance can cut into those savings,” explains Movement CEO Casey Crawford. “But with Movement Purchase Advantage, we’re giving homeowners who buy now a chance to save thousands in refinancing fees. It’s another way that we’re helping homebuyers navigate a changing real estate market more confidently.”
“Many prospective buyers are deciding to wait out of the market to see what direction interest rates go in the next few months,” added Movement president Mike Brennan. “Unfortunately, that can mean missing out on buying their dream house in a desirable school district or with a better commute. With Movement Purchase Advantage, they can move forward with their homebuying plans and know they’ll have an opportunity to lower their cost of credit — with no lender fees — when the market changes.”
In addition to the benefits of buying a home with Movement Purchase Advantage, the company also offers free customized rate quotes and an unmatched 6-7-1 process**: upfront underwriting within six hours of applying, loan processing within seven business days, and closing in one day.
Homebuyers can learn more about the program by speaking with their Movement Mortgage loan officer. If they are not yet working with Movement, they can apply online or find a local Movement loan officer who can help.
*By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
**While it is Movement Mortgage’s goal to provide underwriting results within six hours of receiving an application, process loans in seven days and close in one day, extenuating circumstances may cause delays outside of this window.
About Movement Mortgage
Movement Mortgage exists to love and value people by leading a Movement of Change in its industry, corporate culture and communities. Funding approximately $30 billion in residential mortgages annually, Movement is the sixth-largest retail mortgage lender in the U.S. Movement is best known for its innovative mortgage process and referable experience, which begins with upfront underwriting and a seven-day loan processing goal. The company employs more than 4,000 people, has more than 650 branches in the U.S. and is licensed in 50 states. After funding its balance sheet and investing in future growth, Movement’s profits are paid to its primary shareholder, the nonprofit Movement Foundation. To date, Movement Foundation has received more than $360 million of Movement profit to invest in schools, affordable housing, communities and global outreach. For more information, visit www.movement.com.