After 5 years of membership in the program - if you decide to sell your home and it sells below the assured value, the program may reimburse you for the difference between the sale price and the guaranteed value.
If you sell over the value we have assured, it is your profit. If you sell below the assured value, that is when we have your back.
After 5 years, a member must simply file a "Notice of Intent to Sell". To qualify, homeowners are required to follow program guidelines. Within 60 days of receipt, the Governing commission has the right to reappraise the property to determine if the property is the same approximate condition as originally appraised.
There is no annual membership fee, but you must own and occupy your home for a minimum of five years in order to be eligible for any reimbursement.
A claim is only filed if you think your home will sell below the assured value.
If so, we advise and encourage all members to visit of our office and review the terms and conditions that apply.
Effective July 1st, 2023 our new loan rates will be:
Program 1: $1000 - $15,000 at 0% interest on a 5-year term
Program 2: $15,001 - $20,000 at 2% interest on a 7-year term
Program 3: $20,001 - $30,000 at 3.5% interest on a 15-year term