HOMEOWNERSHIP PLAN

1. Your Homeownership Goals

Phil — based on what you shared with Ownify, your goal is to purchase your first single-family home in the Charlotte metro, with Matthews (ZIP 28105) and the surrounding Mecklenburg County area as your target market. You're targeting a purchase price around $350,000, planning to be in your home within the next three to six months, and you haven't engaged a real estate agent yet — which means we have full flexibility to put the right team around you.

Your starting point is strong: a steady W-2 income at $100,000/year, a credit profile in the Good range (680–720), and roughly $15,750 lined up for a down payment. The plan below lays out exactly how to put those pieces together, what a Conventional loan looks like at today's pricing, what down payment assistance you may qualify for, and the steps to take between now and closing.

2. Your Financial Snapshot

These figures are based on the information on file and will be fully verified at application.

3. Your Numbers at a Glance

We ran your scenario through Ownify's pricing engine and our internal homebuying model. Here are the live numbers — not estimates from a generic table.

Live mortgage quote — Conventional 30-Year Fixed

From Ownify's pricing engine, captured May 7, 2026. Program: Agency Freddie Mac 30 Yr Fixed Conforming. This is a point-in-time snapshot — actual rate at application depends on your fully verified profile, market conditions on lock day, and the program selected.

Affordability and scenario comparison (Charlotte, NC market)

Affordability and scenario figures generated from Ownify's homebuying calculators on May 7, 2026, with the market set to Charlotte, NC and the mortgage interest rate aligned to the live 6.500% Conventional 30-year quote pulled above. The model assumes property taxes, homeowner's insurance, repairs, and PMI on the mortgage path. Live rates and final loan terms are determined at application.

4. Your Loan Options

Three paths fit your profile. Each one is described below with the math behind it.

Option 1 — Conventional 30-Year Fixed (Recommended Primary Path)

A Conventional mortgage is the standard home loan backed by Fannie Mae or Freddie Mac. With a 700-range FICO, a stable W-2 income, and a $15,750 down payment, this is your natural fit and the product Ownify's pricing engine quoted above.

Why it fits you: Your credit, DTI, and income all clear Conventional underwriting comfortably. You preserve the most flexibility — PMI drops off at 78–80% LTV, and you can request removal at 80% based on appraisal. You also avoid the lifetime MIP that comes with FHA.

• Down payment: $15,750 (4.5%). Loan amount: $334,250.
• Live quote: 6.500% rate / 7.311% APR / $2,113 P&I + $276 MI per month.
• PMI exit: Reach 80% LTV in roughly 7–9 years with normal appreciation, then request PMI removal.

Key consideration: Compared with FHA, Conventional carries a slightly higher PMI rate at this LTV — but it ends. FHA's MIP at 3.5% down is permanent unless you refinance.

Option 2 — FHA 30-Year Fixed (Backup, Pairs With More DPA)

FHA is insured by the Federal Housing Administration. We're not pricing it as your primary because Conventional already qualifies — but FHA opens the door to several FHA-only DPA programs, so it's worth keeping on the table.

• Down payment: 3.5% minimum ($12,250 on $350K) — leaves $3,500 of your savings as a reserve cushion.
• MIP: Upfront 1.75% (financed) plus annual ~0.55% — paid for the life of the loan unless you refinance.
• Stacks with: Arrive Home FHA Forgivable, Chenoa Fund FHA, and Orion Lending BOOST (see Section 5).

Key consideration: Lower entry, but lifetime MIP makes the long-run cost higher. Many first-time buyers use FHA to get in, then refinance to Conventional after 2–3 years.

Option 3 — Ownify Fractional Ownership (A Different Model Worth Considering)

Ownify Fractional Ownership is an alternative to a traditional mortgage. Rather than borrowing the full purchase price, Ownify buys the home with cash and you co-own it with us, building equity through monthly payments without a 30-year debt obligation.

Why it may fit you: You qualify for a traditional mortgage, but Ownify's numbers are meaningfully better on this property — see the side-by-side below.

In plain language: Ownify needs only 2% down ($6,999) versus the $25,220 a traditional mortgage requires once you add a buyer's-agent commission — that's $18,221 less out of pocket on day one. Your monthly Ownify payment would be roughly $3,058 (rent of $2,515 plus $543 of equity purchase) versus $3,272 on a mortgage once you factor in P&I at the live 6.500% rate, PMI, NC property taxes, insurance, and a 1% repair reserve.

Over five years, your total housing cost is about $15,721 lower with Ownify because Ownify buys the home with cash (typically earning a 5% discount off list), and Ownify handles property taxes, insurance, and major repairs directly. A portion of each monthly payment goes to purchasing equity, so you're building real ownership over time.

Key consideration: Ownify is a different ownership model — you hold real equity, but the structure is co-ownership with Ownify rather than full deeded ownership on day one. It is best suited for buyers who want lower upfront capital and lighter ongoing carrying costs without giving up equity build-up.

5. Down Payment Assistance Programs You May Qualify For

Your first-time homebuyer status, your North Carolina target market, and your income profile open the door to several Down Payment Assistance (DPA) programs. The right combination could meaningfully reduce — or in some cases eliminate — your out-of-pocket cash at closing. Identified from Ownify's DPA database, snapshot 2026-04-27.

Primary candidates

Smaller stackable grants

Income-waived alternatives (if NCHFA caps prove tight)

Down payment assistance programs have limited funding and eligibility requirements that must be verified at application. Program availability and terms may change. Your Ownify Concierge will confirm eligibility and walk through application steps when you apply.

6. Your Action Plan

Start your mortgage application at ownify.com/mortgage

Our simple best-rate guarantee: we'll find you the best rate or pay you $1000.

If you don't have a real estate agent helping you yet, sign up with SMART NC AGENT to represent you as your buyer's agent.

If you'd like to discuss any of these options with our Concierge team, please schedule a call.

Right Now (This Week)

• Pull your free credit reports at ownify.com/credit-repair and review them for errors. A clean dispute on a single tradeline can lift your FICO into the 720+ tier and noticeably improve pricing.
• Confirm or update the down payment figure on file. We're working from $15,750 (4.5%); even modest movement up or down changes which DPA programs and rate tiers fit best.
• Decide whether you'd like SMART NC AGENT to represent you as your buyer's agent on a $350K purchase.

In the Next 30–60 Days

• Gather your last 2 years of W-2s and federal tax returns plus your most recent 60 days of pay stubs and bank statements — this is the standard documentation package for application.
• Avoid opening any new credit accounts or making large purchases on credit. Keep card balances low (ideally under 30% utilization). This protects your FICO during the lock window.
• If you'd like to compare Ownify Fractional Ownership against the Conventional path with hard numbers on a specific property, schedule a Concierge call — we'll model the exact home you're considering.
• Begin shortlisting properties in your target ZIP and neighborhood. Once you have a target home, your Ownify Concierge will fast-track the DPA program lookup against the actual purchase price and ZIP.

When You're Ready to Apply

• Complete a formal mortgage application with Ownify (link above).
• Provide the documentation package (income, assets, employment, ID).
• Lock your rate when timing aligns with your purchase contract; the Loan Estimate will be issued within 3 business days of application per RESPA.
• Your Ownify Concierge will submit DPA applications in parallel with the mortgage so funding aligns with closing.

Estimated Timeline to Homeownership

Based on what's on file, you appear to be roughly 2–4 weeks away from being ready to submit a formal mortgage application, and 8–12 weeks total from potentially closing on your first home — assuming you take the steps above and find a property in your target window.

7. Important Notes & Disclosures