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Special Reports
Downpayment Assistance
Builder Consultant Focuses on First-Time Buyers
ROCHESTER, NY -- The Sharrow Group here is focusing its business expansion strategies
on the development of profitable in-house mortgage programs for first-time buyers, including downpayment options
and financial education. This also includes hiring new management personnel.
"A well-designed mortgage program can reduce construction cycles by up to
four weeks and give builders more control over closing dates, carrying costs and customer satisfaction," said
newly appointed vice president and partner Jim Graf. "That's in addition to increasing total profits by at
least 1% per home."
Based in Tampa, Fla., Mr. Graf has over 30 years of experience in creating and
managing homebuilder mortgage programs, including ones in place at Pulte Homes and Hovnanian Enterprises.
Since industry experts suggest that the housing market will continue to grow and
that the biggest area of growth is the first-time homebuyer market, executives at the homebuilder consulting firm
are focusing their efforts on that marketplace.
"First-time homebuyers are underserved by our industry," Mr. Graf said.
"Millions of households have the income to buy homes but are unaware of all the low or no downpayment options
available today. Even buyers with poor credit can, through effective credit counseling, buy a home, if not today,
then at some point in the future."
In fact, Mr. Graf's expertise includes that of creating builder support for the
innovative FHA-approved downpayment assistance program, offered by the Nehemiah Corp. of America, which pioneered
the DPA industry.
Sharrow Group chief executive Bill Carpitella said, "Builders who have mortgage
departments or programs that responsibly guide these buyers through the process do more than build their profits.
"They also create a lasting social impact since homeownership creates wealth
for generations to come."
The mortgage services that the Sharrow Group offers include developing a mortgage
participation strategy for builders without a current presence, which is based on builder risk profile and culture.
This form includes in-house brokers, management contracts, net branches, affiliate business arrangements and fully
owned mortgage companies.
The mortgage program can help turn existing mortgage divisions into integrated
profit drivers, develop strategies to capture first-time homebuilder market share, design advertising programs
for builders to increase affordable housing volume, and create and implement mortgage processes that save cycle
time and increase customer satisfaction.
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