Dallas-based ValueInsured is offering a new product, +Plus, that will act as a down payment protection plan. CNBC staffer Diana Olick takes a look at +Plus, which ValueInsured CEO Joseph Melendez believes will give home buyers flexibility in how they consume the real-estate they want to own.

The product, not to be confused with mortgage insurance, allows a home buyer to insure up to 20% of a home's value at the time of purchase to a maximum insured amount of $200,000. However as with everything, there's a catch:

Even if you sell your home at a loss, you might not be able to recoup all of your lost equity, or even any of it. That's because ValueInsured measures your home value according to a government index, and the index measures by state, not by house.

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