Invest in their future without spending a dime
The DOMO Group helps empower companies to give their employees home buying opportunities and a powerful reason to love where they work that much more. As a valued partner, employees get to take advantage of our exclusive Employee Benefits Program. This program will distribute specific benefits to designated employees and will also function as a talent acquisition and retention instrument.
YOUR EMPLOYEES CAN SAVE:
POTENTIAL SAVINGS REAL ESTATE SERVICES
(amounts based on $1.5M purchase price)
20% discount on listing commission $7,500
50% credit on all buyer title & escrow fees $3,338
20% discount on listing escrow fees $550
100% discount on staging consultation $350
30% discount on 1-year home warranty $180
100% discount on home appraisal $650
25% discount on home cleaning service $100
25% discount on gardening/landscaping $75
15% discount on moving service $300
(amounts based on $100K project)
5% discount on home design/remodel $5,000
10% discount on whole house painting $500
10% discount on PODS storage $250
PROPERTY MANAGEMENT SERVICES
100% discount on 1st month Property
Management fee $400
HOME BUYER ASSISTANCE PROGRAM
(We’ll help you customize the terms to suit your needs)
The Home Buyer Assistance Program is a managed bonus platform that is tailored to assist designated employees with their home purchase. This program will enable your company to subsidize the down-payment for select employees through a forgivable loan that will be secured by a second position lien. The second lien will grant your institution recourse until the end of the term.
The Home Buyer Assistance Program’s flexibility allows your company to select terms and general location of the home purchase. Your company will also have the ability to select the employees who will be eligible for the program. The program will assist qualified employees that can’t purchase a home, due to lack of down-payment funds.
How Does It Work? Generally, the employee(s) will not make any payments on the 0% interest loan over the term, which is usually up to five years. However, there will be penalties if the employee(s) leaves your organization prior to the expiration of the term, which can be customized to match the requirements of your company. See example below.
Not only will the Home Buyer Assistance Program increase your institution’s ability to acquire talent, but it will also function as a conduit to retain talent, as well. In addition to talent acquisition and retention, the program offers several other benefits. These include, but are not limited to: potential tax benefits for employer and employee; internal regulation and management; goodwill; as well as infusing a community culture.
SAMPLE 5-YEAR LOAN FORGIVENESS SCHEDULE
0% - if employed on 1st loan/bonus anniversary date
25% - if employed on 2nd loan/bonus anniversary date
50% - if employed on 3rd loan/bonus anniversary date
75% - if employed on 4th loan/bonus anniversary date
100% - if employed on 5th loan/bonus anniversary date