Posts published in April 2023

New Line of Financial Products to Now Include Luxury Avian Accommodations

CHICAGO, March 30, 2023 /PRNewswire/ — Owning, an online mortgage lender, announced this week it will be expanding its loan offerings to include an array of products specifically designed to upgrade the living and working spaces of live poultry.

Sensing the need for free-range chickens to have the necessary space they require to live comfortably and be productive, and with the price of eggs on the rise for the third straight quarter, Owning’s financial offering is a variant of the existing Jumbo loan, “The Eggstravaganza.” This loan caters mainly to those egg farmers with particularly large flocks of egg-laying hens who need the extra space. Boasting a nonconforming threshold in excess of $1,090,890, this loan is ideal for luxury laying spaces over 40,000 square feet, whether spread out across a field or in one of the growing number of chicken ‘high rise’ buildings.

The second new loan type, dubbed the “Comfort Layer,” takes its foundation from the 30-year fixed mortgage, though an ARM version is also available. Meant for a more modest, intimate egg-laying experience for flocks of fowl of less than two hundred, it still delivers on the promise to significantly upscale the standard of living for the productive hens that continue to lay eggs for households, restaurants, and bakeries across the United States. As noted previously, the rising market value of eggs makes this loan particularly attractive to personal- and small-sized hatcheries as egg futures are currently seen as a lucrative investment by market pundits.

Next, Owning is proud to unveil the third loan in the new series, “The Re-Coop,” aimed at helping egg farmers renovate their existing spaces to bring them up to a level of livability and comfort for their chicken residents. Chicken coops saw extensive use during the pandemic. Consequently, this led to many structures deteriorating as continual labor and materials shortages only compounded the problem. With many of the supply chain issues now largely resolved, this loan is designed to not only restore the existing inventory of chicken coops to pre-pandemic levels but also raise the living standard while keeping the sensibilities of the modern gallus gallus domesticus in mind.

Topping off this program, Owning will now provide a full range of insurance policies to further help pioneering egg-laying aficionados protect their investments in their chickens’ futures. New protections include (but are not limited to) foxes, cryptids (both tenebrous and corporeal), and natural disasters, as well as a host of other scenarios common to the industry. These policies will have the option to be bundled with monthly mortgage payments for maximum customer convenience and value.  

“We don’t just want it to be a hen house, but a hen home,” Owning’s Chief Growth Officer, Scott Stephen, said. “This program is Owning’s way of giving peace of mind to egg producers while ensuring that America’s hard-working hens finally have the special place they deserve.”

Visit owning.com/chicken-mortgage to learn more.

About Owning
Owning is an online mortgage lender that was acquired by Guaranteed Rate in 2021, which prioritizes customers over profit. With a specialization in 30-year fixed mortgages, Owning creates efficiencies to streamline the mortgage process and deliver additional savings to first-time homebuyers. Owning is licensed in 35 states and offers one of the most seamless mortgage application processes in the industry using a digital-first approach. Owning offers ridiculously low rates and makes it easy for borrowers to search for rates, choose a loan product, and get a credit check—all online. Owning’s online platform is built on the same foundation as Guaranteed Rate’s Digital Mortgage, which was awarded best-in-class by NerdWallet in 2020. With Owning, homebuyers can expect a top-notch, secure, and reliable mortgage experience that caters to a new generation of homeowners.

About Guaranteed Rate 
This story is a satire. Guaranteed Rate does not offer any of the services and products described in this press release. Guaranteed Rate is a leader in mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies have over 850 branches across the U.S., serving all 50 states and Washington, D.C. Since its launch in 2000, Guaranteed Rate Companies have helped more than 1 million homeowners with home purchase loans and refinances, with a total loan volume of more than $116 billion in 2021 alone. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by U.S. News & World Report; Best Mortgage Lender for Online Loans and Best Mortgage Lender for Refinancing by NerdWallet for 2021; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ in 2020, digital mortgage platform MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide’s 2022 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more information.      

SOURCE Owning