At Amalgamated Bank, we understand a down payment is the biggest investment most Americans make. That’s why we’re pleased to make +Plus Down Payment Protection by ValueInsured1 available to single-family home and condo buyers. If you need to move and sell in a market downturn — whether it’s for your career, a growing family or any other unforeseen reason — your hard-earned down payment may be protected.
Here's how it works:
If you purchase Down Payment Protection and end up selling your home at a loss due to a market downturn between 2 and 7 years, you may be reimbursed for your down payment (up to 20% of your original purchase price) or the actual equity you lost, whichever is lower.
Learn more about Down Payment Protection
Special offer for first-time homebuyers
Now you can enjoy Down Payment Protection2 at no cost for the 5% down payment required when you get an eligible mortgage through our First-Time Homebuyer +Plus Program. And you'll have peace of mind knowing you may be reimbursed if you sell your home at a loss.
1 +Plus by ValueInsured Down Payment Protection: There is no additional cost for +Plus by ValueInsured Down Payment Protection on the first 5% down with the First-Time Homebuyer +Plus Program. For you to receive coverage, your home must be: A single-family home or condo sold for less than it was purchased, as per The Federal Housing Finance Administration (FHFA) Home Price Index from your home’s state; sold at least 2 years after your home purchase but no more than 7 years after your home purchase; owner-occupied during the entire coverage period — no rentals; sold to an unrelated third party and no leasebacks are allowed. Coverage is not yet available for co-op purchases. Check policy terms and conditions. PVI Agency, LLC dba ValueInsured is a licensed agency in all 50 states and the District of Columbia, and is not affiliated with Amalgamated Bank. Terms and conditions of the insurance described herein as Down Payment Protection, including pricing, are determined solely by the issuer of the coverage and not by Amalgamated Bank. The description of Down Payment Protection contained herein should not be considered as a solicitation nor an offer to provide such insurance in any jurisdiction whatsoever where it would be unlawful to do so. The Down Payment Protection product is insurance: not a deposit — not FDIC-insured — not insured by any federal government agency — not guaranteed by the bank. Approval of your mortgage loan will not be conditioned upon your obtaining Down Payment Protection and this insurance may be available from other sources.
2 First-Time Homebuyer +Plus Program: There is no additional cost for Mortgage Insurance with the First-Time Homebuyer +Plus Program. The program is available only to qualified first-time homebuyers. Income, geographic and other restrictions and limitations apply. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. All loan applications are subject to credit and property approval, collateral verification, and Amalgamated Bank's terms and conditions. This is not a commitment to lend.
Consult your tax advisor for any tax implications.
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