Uplist has partnered with Arcasa to integrate a zero-down payment assistance option into its property listing tools. The feature, available in 46 states, combines down payment assistance and solar financing into a single FHA loan, displaying estimated monthly utility savings and allowing buyers to compare affordability without a credit check.
The integration aims to broaden housing affordability by enabling more buyers to visualize a zero-down payment scenario, potentially increasing access to homeownership by bundling assistance and solar financing into a single FHA loan.
Uplist, a platform focused on providing mortgage payment options for property listings, announced on Thursday its partnership with Arcasa. This collaboration integrates Arcasa's financing solutions, including a zero-down payment assistance option, directly into Uplist's listing tools. The new feature allows potential homebuyers to view a complete financing scenario, encompassing down payment assistance and solar financing within a single Federal Housing Administration (FHA) loan, by scanning a listing's QR code or using a personalized shopping link. This aims to provide buyers with a clearer understanding of affordability before engaging with a loan officer, without requiring an account, Social Security number, or credit pull. The program is designed to assist buyers by addressing the upfront cash needed for a home purchase. Arcasa stated that the down payment assistance has no income limitations or first-time homebuyer requirements, and it does not incur a separate monthly payment, increase the mortgage rate, or result in a 1099 for the borrower. The integration is currently offered in 46 states, excluding New York, Hawaii, Alaska, and West Virginia.
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