Frequently Asked Questions
1. Who can qualify for the Fresh Start Grant Program?
Everyone! There are no income or credit restrictions. Anyone regardless of previous credit history or income will qualify. No one can be turned down for any reason. However, the Fresh Start Grant Program requires that you be able to qualify for a home loan. See #16 below.
2. Is Quantum Financial a Lender or Credit Repair company?
No. We don't provide lending or credit repair services of any kind. We only provide assistance with paying off your debt through Fresh Start Grant Program.
3. What's the maximum amount of debt I can eliminate through my home purchase?
No Limit. There is no limit to how much of your personal debt (car loans, credit cards, other loans, etc.) that can be eliminated and monthly payments reduced through the Fresh Start Grant program. However, the more debt you wish to reorganize the greater the fee is to the seller. Therefore, there is a certain practical limit that makes sense for all parties.
4. Will the Fresh Start Grant program work with all kinds of properties in all states?
Yes. Fresh Start will work with any kind of real estate purchase and in all 50 states.
5. Is the Fresh Start Grant Program a 2nd mortgage?
No. It is not a lien against any property you choose to buy. It is a Grant.
6. Can the Fresh Start Grant work with any kind of loan?
Yes. Fresh Start is not restricted to any kind of home loan. It will even work with 100% financing home purchase loans.
7. Who pays for the Fresh Start Grant program?
The Buyer pays NO COSTS for participating in Fresh Start. Quantum Financial pays for all costs associated with Fresh Start. In turn Quantum Financial charges the Seller a fee for services rendered for assisting you, the Buyer with Fresh Start.
8. What can I do to get most or all of my debt eliminated with the Fresh Start Grant?
Writing the most attractive offer to the seller as possible will give you a big advantage in getting the most debt eliminated through the Fresh Start Grant program.
9. Do you need to run my credit report?
No. You simply tell us the debts you want paid off and we do the rest. If you wish, we can run your credit report for the purposes of helping you determine which accounts you would like to pay off through Fresh Start.
10. How long does it take to get the Fresh Start Grant in place for my home purchase?
The entire process takes about 30 minutes from start to finish.
11. At what point do my debts get paid off?
Once your purchase closes, we will overnight all the checks for payoff to you and you will send them to each of your debtors.
12. What is the process for the Fresh Start Grant program?
First, contact us. We will answer any additional questions you have. Then together we will determine what debts you want paid off. We will then issue you the paperwork needed to give to your seller when you present your offer to purchase your new home along with an itemized list of the debts that will be paid off at the closing of your new home.
13. Can I take advantage of the Fresh Start Grant even if I am not buying a home?
No. Fresh Start is only for people who are purchasing a new home.
14. What Agents and Communities work with Fresh Start?
Most Agents and Communities will work with Fresh Start if they know about it and given the opportunity. For a current list of Agents and Communities working with Fresh Start visit our Participating Agents and Communities Directory. If your real estate agent or desired community is not listed here refer them to our website so they may participate in this program for your benefit. Here is the link of the Agent Sign Up page.
15. Is the Fresh Start program a State or Federal Grant program?
No. Fresh Start is a privately funded program for home buyers and is not affiliated with any government entitily. For this reason, everyone can be approved, no one is declined and the entire process takes about 15 minutes with our consultants.
16. How do I begin the process?
Prequalify for a home loan: In order to proceed with the Fresh Start program you need to be prequalified for a home loan. If you are not currently working with a mortgage lender or real estate agent, email or call us and we will be happy to put you in contact with the largest lenders in the country, like Bank of America who work with Quantum Financial's Fresh Start program. Once you understand your home loan options and payments, you can better understand what other debts you need relief from through Fresh Start in order to feel comfortable making your new mortgage payments.