Diamond Residential Mortgage Corporation Launches the Diamond Community Advantage Program (DCAP) to Strengthen Underserved Communities
July 10 2024 - 1:06PM
Diamond Residential Mortgage Corporation (DRMC) is excited to
announce the launch of the Diamond Community Advantage Program
(DCAP), a fair-lending initiative designed to support homeownership
in under-served target census tracts within Lake County, Indiana,
and Cook County, Illinois.
DCAP aims to make the dream of homeownership a reality by
providing significant financial benefits to eligible borrowers.
This program underscores DRMC's commitment to fostering financial
inclusivity and empowering local communities.
"At Diamond Residential Mortgage Corporation, our primary
objective has always been to ensure reliable mortgage solutions for
every deserving individual. This enhancement emphasizes our ongoing
effort to strengthen communities, ensuring broader homeownership
accessibility," said Paul Diamond, CEO of DRMC.
Key Features of the Diamond Community Advantage
Program:
- Generous Lender Credit: Eligible borrowers can
receive a lender credit of up to $3,000* to assist with closing
costs, down payment buydowns, or other permissible items.
- Amplified Benefits: DCAP works in
conjunction with local Down Payment Assistance Programs, including
those provided by the Indiana Housing and Community Development
Authority (IHCDA) and the Illinois Housing Development Authority
(IHDA), allowing borrowers to maximize their financial
assistance.
- Government-Backed Mortgages in Cook
County: Only government-backed mortgages are eligible
in Cook County, ensuring additional support and security for
borrowers.
"The Diamond Community Advantage Program represents our
commitment to making homeownership accessible to everyone,
particularly in underserved areas. By providing lender credits and
partnering with local housing authorities, we aim to remove
financial barriers and support the dreams of many potential
homeowners," said Dom Garrett, Senior Vice President of Marketing
and Communications at DRMC.
The launch of DCAP is a testament to DRMC's dedication to
creating a positive social impact through responsible lending
practices. By focusing on underserved areas, DRMC aims to
contribute to the economic growth and stability of these
communities. Dedicated loan officers will provide personalized
support and education throughout the home-buying process, creating
an approachable lending experience. Additionally, DRMC offers a
variety of loan programs to meet the unique needs of each borrower,
even if they do not qualify for DCAP.
For additional information about the Diamond Community Advantage
Program and its benefits or to GET STARTED, please visit
https://hs.diamondresidential.com/diamond-community-advantage-program
About Diamond Residential Mortgage Corporation:
Diamond Residential Mortgage Corporation is a mortgage lender with
corporate headquarters in Lake Forest, Illinois, licensed to
originate and service mortgage loans in 21 states. DRMC is approved
to originate FHA, VA, USDA, and conventional mortgage loans and
several mortgage loan products offered by private investors. It is
an approved Freddie Mac and Fannie Mae Seller/Servicer and Ginnie
Mae Issuer. Founded in 2009 by Paul Diamond, DRMC has since
expanded to over 30 branch locations across the United States. DRMC
is not affiliated with or acting on behalf of or at the direction
of any governmental body or agency. DRMC is an Equal Housing
Opportunity lender, NMLS #186805, NMLS Consumer Access.
For more information, visit https://diamondresidential.com/.
Dom Garrett
Diamond Residential Mortgage Corporation
847-737-5626
dom@drmconline.com