Lower the payment, not the price. SmartStart RateSaver
Hi, I'm Wendy, and I'm a mortgage lender. Rates and home prices are both high right now, so I created SmartStart to help. It can make your monthly payment smaller for the first year or two, or cut the cash you need at closing. Buyers get a home they can afford, and sellers and builders keep their price.
Tell me about you
Pick one and I'll show you how SmartStart helps.
See what SmartStart does to a real payment
Move the sliders to match your home. Then see what the same money would do as a price drop. The difference surprises most people.
Your numbers
These are estimates to give you an idea. They show principal and interest on a 30-year fixed loan only, and leave out taxes, insurance, PMI and HOA. This isn't a rate quote or a loan offer. I'll give you your real numbers once I know a little more about you.
A lower payment, explained simply
Someone (usually the seller, the builder, or me) puts some money in at closing. That money makes your monthly payment smaller for the first year or two. After that, your payment goes to the regular amount. People in my business call this a "temporary buydown."
Money goes in at closing
The seller, the builder, or my SmartStart credit sets money aside on the day you close.
Your payment starts lower
With a 2-1, your rate is 2% lower the first year and 1% lower the second year. That's real breathing room while you settle in.
Then it goes to the regular amount
In year three, you pay the regular amount. I approve you for that amount from the start, so there's no surprise. And if rates drop, you can refinance with me with no lender fees in your first 5 years.
It works for everyone in the deal.
Buy now, with a payment you're comfortable with.
If rates and prices have you feeling stuck, SmartStart gives you some room to breathe right when you need it most.
- A lower payment to startYour payments are smaller for the first year or two.
- Less cash to closeOr use 1% of your loan toward your closing costs instead.
- A safety net if rates dropRefinance with me with no lender fees any time in your first 5 years.
- More homes in your budgetA lower starting payment can open up homes you thought were out of reach.
Help your home sell sooner, without dropping your price.
I'm not a real estate agent. I'm the lender who makes a lower payment possible for your buyer. Most buyers shop by monthly payment, and taking $10,000 off your price only lowers a buyer's payment by around $60 a month. SmartStart can lower it by hundreds. Same money, much bigger difference.
- Stand out from other homesYour home can be advertised with a lower payment, not just a price.
- Reach more buyersPeople who couldn't afford the payment before can now take a look.
- Protect your priceKeep your asking price, and help keep your neighborhood's home values strong.
Give your clients something better than a price cut.
Whether you have the listing or the buyer, I'll give you real numbers you can show your clients.
- Numbers for any homeSend me an address and I'll make a payment example for that home that you and your clients can look at together.
- Win more listingsWalk into your listing appointment with a plan that helps your seller keep their price.
- Write stronger offersInstead of asking for a lower price, ask the seller to help lower your buyer's payment.
- A lender who answersI'm here Monday to Friday, 8am to 8pm, with fast pre-approvals and updates all the way to closing.
Sell your homes faster. Keep your prices.
Every price cut becomes the number the next appraiser compares to. SmartStart helps buyers say yes while your prices stay where they are.
- Protect your neighborhood's valuesOffering a lower payment instead of a lower price keeps future appraisals strong.
- Numbers for every home or floor planI'll put together payment examples for each home, plan or phase, so buyers can see what they'd pay.
- Move homes that are ready nowAdvertise a lower payment on finished homes that need to close soon.
- Easy to work withMy team works directly with your sales and closing staff.
Help that fits your life
Your job and your situation shape how you buy a home. Pick the one that sounds like you.
Have a home in mind? I'll run the numbers on that one.
Send me a listing, a new build, or a whole neighborhood. I'll show exactly what a buyer would pay each month on that home with SmartStart, on a simple page from me that buyers can look at anytime.
- Agents: see what a lower payment would look like for your seller or your buyer.
- Builders: get payment examples for each home or floor plan.
- Sellers: see what a lower payment does for buyers before you drop your price.
Send me the home
I usually get these back to you within one business day.
Refinance later, with no lender fees
If rates go down within 5 years of buying your home, I'll refinance you with no lender fees. You get a lower payment now, and a plan for later.
Hi, I'm Wendy Thompson
I'm a mortgage lender, and I lead the Wendy Thompson Lending Team here in Memphis. Helping people finance their homes is what I love to do, and I work right alongside your real estate agent to get you to closing. Every buyer, seller and home is different, so I take the time to find the plan that fits yours.
The people I work with come back, and send their friends, for the same reasons. I explain things clearly, I'm honest with you, and I get you to closing day without surprises.
Moving to Memphis?
My guide covers the music, the barbecue, the neighborhoods, and the local tips that make moving here easier. Tell me where to send it.
Common questions
Who pays for the lower payment?
Usually the seller or the builder, as part of the deal. My SmartStart credit can help pay for it too. The money is set aside at closing to cover the difference in your payment.
What happens when the lower payment ends?
Your payment goes to the regular amount for the rest of the loan. I approve you for that full amount from the start, so you'll know exactly what to expect. And if rates drop, you can refinance with me with no lender fees in your first 5 years.
Is this really better than lowering the price?
Usually, yes. Taking $10,000 off the price only lowers a buyer's payment by around $60 a month. The same money spent on SmartStart can lower it by hundreds a month at the start. Try it in the calculator above, or send me a home and I'll show you.
Can I get money for closing costs instead?
Yes. Instead of a lower payment, you can put 1% of your loan toward your closing costs. On a $300,000 loan, that's $3,000.
I'm an agent or builder. How do I get numbers for a specific home?
Send me the address, the price, and any money the seller or builder can put in. I'll send back the monthly payments for that home on a simple page from me. And just so you know, your clients are always free to choose any lender.
What kinds of loans work with SmartStart?
SmartStart works with many types of home loans. The rules depend on the loan and on whether you'll live in the home. Tell me about your situation and I'll let you know what fits.
Get your SmartStart rate
Tell me a little about yourself, and my team or I will reach out, usually the same business day.
- 1Tell me what you're working on: buying, selling, listing or building.
- 2I'll run your SmartStart options with real numbers.
- 3You pick what works best for you. No pressure.
Rather talk now? Call or text (901) 461-8858, or call toll-free at 866-957-9770.