• General information about lower down payments

• Step by step instructions

• Frequently Asked Questions

Downpayment can be both increased and decreased on a program. Outside of a few coverage types that require higher downpayments, our standard downpayment is 20% of premium + unearned fees.

Lowering the downpayment on a program will always require review by our Underwriting Team.

Reviews are typically completed within 1 business day, but can often be completed within a couple of business hours, unless additional information is required to complete the review. If our Underwriting Team has more questions about the policy or insured, this could extend the review period until all needed info is gathered.

⚠️ To request reduced downpayment, the program must have at least $10,000 in gross premium. Programs lower the this amount will not be eligible for modification. ⚠️

1. From the program page, click the Request loan terms button under the Payment options section

   

2. Enter the desired down payment % that you'd like to submit for review. Ensure that the quote and/or invoice documents are included when requesting a reduced down payment. Failing to attach accurate documents will result in delaying the review.

   • Note: In most cases, a down payment lower than 15% is not approved.

3. Upon submitting your request, the Producer and Account Manager on the program will receive an email notification.

4. When the review is completed, you will receive another email indicating the results of the review:

   • Approved: The lower down was approved as requested.

   • Counteroffer Approved: A lower down is being offered, but not as low as your original request. This will be a % in between your request and the standard down payment.

   • Rejected: The request was rejected and no lower down payment can be offered than the standard original down on the program.

Requests can be processed within 1 business day. To expedite a request, please reach out to our Support Team at support@useascend.com. We will do our best to accommodate, but cannot process a lowered downpayment without completed review.

Yes, but this does not increase the likelihood of the request being approved.

Yes, any change to the program will require another request sent to the UW team for review.

Need more help? Contact us at support@useascend.com for more help.