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What is Project My Home?

Project MY Home® is a Seller relocation program that is designed to massively lower the cost of your home sale.  Sellers get a large rebate (lender credit) when they sell their home and buy another(1).  The home is showcased on popular search sites as a specialty listing as well as a special financing credit offered to incoming Buyers. This helps buyers with closing costs and have found this to diminish the need for seller paid closing costs.

(1) The seller must finance with Rick Elmendorf, NMLS ID#485091.

How much can the seller save with Project My Home?

Sellers get up to 1% of the Sales Price back when they sell their home and buy another(1). Sellers can also save (up to 2%) by not having to contribute towards buyer closing costs(2).

(1) Lender Credit to the Seller on the next purchase is the lesser of $7500, 1% of the Sales Price of the home they are selling or 1% of the amount financed on the new home. Sellers must finance their next home with Rick Elmendorf NMLS ID#485091 at Caliber Home Loans to receive the lender credit. 

(2) The Project My Home Buyer Credit is a credit to the Buyer on a Project My Home listing. The grant is capped at $10,000. Credits to Buyers are a percentage of the amount financed and are only available on registered Project My Home listings. The buyer must finance with Rick Elmendorf NMLS ID#485091 at Caliber Home Loans to receive the credit.  Credit to Buyer is up to 2% x loan amount. 

More information at https://info.elmendorfteam.com/project-my-home-buyer.

How does a home qualify to be a Project My Home Listing?

Because Project My Home is a Seller Relocation Program, it is restricted to Primary Residences.  Additionally, Project My Home is only offered to Sellers that are either existing clients of The Elmendorf Team, existing clients of Caliber Home Loans, or clients who have pre-approved with Rick Elmendorf to purchase their next home.  (Exceptions for Military Home Sellers)

To get your home on the list: 

  1. Seller’s information would be entered on www.projectmyhome.com
  2. Property is created in our listing portfolio.  The property is associated with the seller and listing agent as primary contacts.
  3. The property address will be verified to ensure we can support the program in your area.
  4. ETEAM will connect with the seller and agent to explain the program details and confirm acceptance.
  5. It is highly recommended for Sellers to work with one of our Certified Project My Home listing agents to get the full benefit from the program.

How much is the Project My Home Buyer Credit?

The credit offered to the Buyer is as high as 2% of the Sales Price. 

Details on the PMH Buyer Page.

What are the steps to handling offers for a Project My Home Listing?

When an offer comes in, the listing agent will tell the buyer agent (or buyer) about the Project My Home Buyer Credit.

"If you are in need of closing cost assistance, the buyer can apply for a Project My Home Credit which with your offer would equal $x.  I'll include the offer in the addendum." 

Click HERE to see how much the credit would be for your offer.

Project My Home Credit addendum to the contract

If you obtain Your mortgage loan through Rick Elmendorf at Caliber Home Loans, You will be entitled to a credit of $_________ from the lender at Settlement.  The credit may only be used towards buyer settlement costs and is subject to reduction based upon Your selected loan amount and loan program requirements.  Call 571-249-5363 for information.

What is the Project My Home Credit addendum to the contract?

If the buyer is in need of closing cost assistance, they can take advantage of a Project My Home Credit. Click HERE for details on the amount of the credit. 

So the buyer is aware of the credit, it is included as an addendum to the contract.

Project My Home Credit addendum to the contract

If you obtain Your mortgage loan through Rick Elmendorf at Caliber Home Loans, You will be entitled to a credit of $_________ from the lender at Settlement.  The credit may only be used towards buyer settlement costs and is subject to reduction based upon Your selected loan amount and loan program requirements.  Call 571-249-5363 for information.

Is the buyer required to accept the credit?

No.  The credit is optional and the buyer is always allowed their choice of lenders.

The Buyer is not asking for seller help or listing is highly competitive... what then?

One dynamic use of the Project My Home Credit is to use it to increase the seller net and at the same time lower the cost of the home to the buyer. 

If the buyer finds themselves in a competitive offer situation, they can choose to use the credit to offset an escalation of the sales price.  Price escalations increase the net to the seller and will offer a better chance to win the home.  Offering more for the home doesn't mean paying more.  As an example, a buyer was able to increase the price offered to the seller by $4,000 thereby beating out other offers.  The $8,000 credit to the buyer more than offset the escalated price of the house. In the end, the seller got $4,000 more and the buyer got the home for $4,000 less. 

What is the "awareness campaign"?

For each Project My Home listing, we will execute our FREE listing awareness campaign. 

  • Automatically generated marketing including:
    • Unique Neighborhood Infographics
    • Property Website
    • Listing Flyers
    • Open House Sign-in Sheets
  • Lead Generation & Capture via our proprietary technology and marketing. 
  • Customized offer protocol to ensure that each buyer is aware of the credit.

Does Seller still have their choice of lenders for their next home loan?

Yes, the Seller maintains their right to choose their lender for the next home purchase; however, the Project My Home Seller Credit is only available if they choose to finance with Rick Elmendorf, NMLS ID#485091 (or with a Caliber Home Loans loan consultant referred by Rick Elmendorf).

The "Seller Credit" is a lender credit given to the Seller at closing when they finance the purchase of a new home.  The Lender Credit is the lesser of $7500, 1% of the Sales Price of the home they are selling or 1% of the amount financed on the new home.

I am an Agent, how do I get Certified?

So, what's the catch?

No catch.  We simply ask the following.

  1. Listings must be approved beforehand by Rick Elmendorf.  Sellers can apply at projectmyhome.com
  2. Sellers are asked to get pre-approved with us for the next home purchase.  You can start that process at www.loanwithrick.com.
  3. All buyers making an offer should be offered the credit via the Project My Home Grant contract addendum.

The fine print!

This is intended solely for informational purposes and is an exclusive offer of Rick Elmendorf NMLS ID#485091 and The Elmendorf Team at Caliber Home Loans. This document is not part of the application process and does not constitute an application. The information contained herein reflects the proposed options for borrowers and sellers that choose to participate in the Project My Home program.  If you decide to proceed with applying for a loan, you will need to complete a loan application and you will be provided with detailed loan disclosures including a Loan Estimate. Caliber Home Loans, Inc., 3701 Regent Boulevard, Irving, Texas 75063 (NMLS # 15622). Equal Housing Lender. (c) 2019-2020 Richard Elmendorf, ALL RIGHTS RESERVED. 

"We had a fantastic experience with Rick and could not be more impressed or satisfied with the Elmendorf team. Our monthly payments came out to be $100 less than what their estimates were—which we were VERY happy about! They were upfront about the whole loan process and were readily available to answer all our questions."

Jim A., Virginia

“We were able to get a great rate reduction with very little effort, saving us tons of money long-term. We went through the refinancing process in less than a week and now are enjoying a lower monthly payment with a lower interest rate. This was great for us as we plan on staying here long-term. I highly recommend the Elmendorf team for your home purchasing/refinancing needs.”

Keith L., Virginia

“As a first time homebuyer, my wife and I were completely new and slightly uneducated about all of the steps that are involved with the process. The Elmendorf Team was patient with us and educated us all along the way! I loved that they weren’t afraid of my questions, but answered them and helped us learn along the way. Their customer service was impressive! The loan was secured and processed according to the deadlines that were set, and closing was a breeze. I would HIGHLY recommend them to anyone who appreciates honesty, excellent communication, and professionalism.”

Sam S., Florida

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