mortgages designed Exclusively for professional athletes
A McKenzie Mortgage® is an unconventional mortgage, with conventional mortgage rates, designed exclusively for professional athletes. A McKenzie Mortgage® finances up to 110% of the purchase price which also covers the down payment and closing costs.
A portion of the real estate purchase is funded by a mortgage loan, which is repaid over a 30-year term, and the other portion of the home is financed with a Contract-Based Loan, which is repaid over the term of the athlete's player contract.
Benefits of a McKenzie Mortgage®
- 110% financing available
- No cash down payment required
- Customized repayment plan
- No prepayment penalty
- Available on primary and secondary residences
- Available in all 50 states
- Borrowers with no or poor credit history qualify
Sure Sports received a request to secure real estate financing on a $5.3 million home for a NBA Player who signed a $40 million contract. The Player had limited credit history and insufficient tax returns and did not meet national mortgage requirements. The Player wanted to close on the house before camp started, but he would not begin to receive his increased salary until November and was unable to make the full down payment.
Sure Sports provided the Player with a Guaranteed Contract Loan for 104% of the purchase price to cover all real estate closing costs as well as the full purchase of the home. Sure Sports followed the contract loan with a mortgage on a 30-year amortization at 55% of the purchase price, with no payments due until the contract payments began. The Player saved 10% ($410,000) on the price of the home by doing a cash purchase, was not required to use his own funds for a down payment and closed on the real estate loan in only 7 days.