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MAP is simple:
Step 1: You get pre-qualified, at no cost, with Cove Financial based on your ability to pay a mortgage and overall financial history (NOT just your credit score).
Step 2: When you’ve found the house you want to buy with your Realtor, COVE completes the purchase on your behalf and buys the house.
Cove charges a 3% Fee, plus $995 application Fee (at escrow opening) for this service.
You are required to also place a down-payment deposit of 10% with a certified escrow company to use in the future when you secure a standard mortgage.
Step 3: You move in! And, you enter into COVE’s innovative new Flex-Escrowtm program to purchase the house from COVE anytime up to 6 years later at a pre-determined amount. See Examples of the fixed price schedule.
COVE also establishes a lease with pre-determined, fixed lease payments, for up to 6 years. So you can enjoy YOUR house now!
Step 4: When you qualify for a traditional mortgage again, you simply inform COVE that you want to close the Flex-Escrowtm account--and the home is yours!
Any appreciation on the house is yours to keep!
Experience You Can Trust
The founders of Cove Financial Group have served hundreds of thousands of families to help meet their residential real estate needs. You can place your full confidence in our ability to provide you with the tools you need to buy your dream home.
Our Mission
Cove believes Americans deserve to have stability and certainty in where they
are going to live and raise their families. Cove is committed to
transforming home ownership and helping families realize the dream of
owning a home. The core values they pledge to bring to every transaction and
customer interaction are: respect, customer-focus, integrity, honesty and
transparency.
View a sample transaction to learn more about how our Mortgage Alternative Program can work for you.
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