Marquette Partners with Wells Fargo Home Mortgage to Serve Post Graduate Market
The Marquette Companies has broadened its network of financial relationships to create an innovative home buying program uniquely designed to serve the college post graduate market.
“SmartRent”, a branded product of Marquette, has been developed in partnership with Wells Fargo Home Mortgage, the nation’s largest mortgage company. SmartRent is designed to accelerate home buying opportunities for college graduates while positioning them for the financial responsibilities of home ownership.
According to Rick Harb, a Managing Director of the Marquette Companies, “The idea for Smart Rent emerged after surveying numerous students from colleges and universities located through out the Midwest. Almost without exception, students talked about the need for debt consolidation and other aspects of financial counseling in an effort to quickly eliminate student loans and prepare for their ultimate dream of home ownership.”
While colleges and universities serve diverse markets, our research has revealed a disturbing trend: The vast majority of college and university students leave school with substantial debt in student loans and are in dire need of real life financial education. It may take five or more years of renting before a college graduate is able to purchase his/her first home and begin to fulfill the American dream.
SmartRent is especially valuable for graduate students living in Marquette managed apartments. Our program enables them to pre-qualify for a home mortgage, applicable to home purchases anywhere in the country through Wells Fargo Home Mortgage, the day they sign their lease. More importantly, renters in need of financial discipline, including credit counseling and debt consolidation advice, are provided these financial services at no charge by their assigned Wells Fargo Counselor. In our town building partnerships, where we develop College and University neighborhoods, students, faculty and staff can accrue their home purchase down payments through our exclusive SmartRent mortgage program.
Susan Paola, a Business Development Manager for Wells Fargo Home Mortgage, sees Marquette as a national leader serving the new youth driven home buying market. “I am impressed with Marquette’s broad organizational capacity coupled with its leadership vision. Marquette serves residents as if they’re customers for life. We believe in those customer relationships and want to grow with business partners who execute them the best.”
SmartRent is one of the many programs that Marquette brings to its local development partnerships to better facilitate the needs of College and University markets. And these types of resources serve to insure the success of each of Marquette’s town building initiatives.