How to Build the Strongest Offer
Here are the four biggest challenges buyers are facing today:
- Competing against cash offers
- Waiving an appraisal
- Sales contingencies
- Equity tied up in your current residence
We offer tailored, realistic solutions for everyday borrowers. Compete against cash with Home Buyer’s Edge, waive an appraisal risk-free with Value Assurance, tackle a sales contingency with Home Sale Assured, or find flexibility when your equity is tied up with a bridge loan.
Compete Against Cash Offers with Home Buyer’s Edge
There are three levels of mortgage “pre-approvals”:
- Pre-Qualification: Informal, verbal review
- Pre-Approval: Verifying a buyer's credit/ income/ and assets
- Home Buyers Edge: A mortgage underwriter completes a formal review of the buyer's financial documentation
Benefits of Home Buyer’s Edge
- Provides the buyer, seller, and listing agent increased confidence in the buyer's eligibility.
- Gives leverage against cash offers, competing offers with a large down payment, or equal offers that have only been pre-approved.
- Gets you fully-approved by an underwriter, subject to an appraisal.
Waive an Appraisal Risk-Free with Value Assurance
Value Assurance works great in tandem with Home Buyer's Edge.
Buyers can waive their appraisal with the seller with no mortgage risk.
While we will still obtain an appraisal, the appraised value has zero effect on your mortgage terms.
If the property is valued for less than the sale price, we will cover any required mortgage insurance as a one-time payment to PMI company at closing.
Benefits of Value Assurance
- Provides a safety net for buyers willing to waive their appraisal contingency.
- Works great for buyers that were reluctant to waive their appraisal contingency with the seller.
Qualifying for Value Assurance
Minimum 20% down payment to be eligible, single-family/ condo, minimum 720 credit score.
Overcome Sales Contingencies with Home Sale Assured
Buyers are often contingent for one of two reasons:
- Income: Inadequate income to carry multiple properties
- Assets: Insufficient funds to cover down payment and closing costs
Buy Now, Sell Later with Home Sale Assured
Home Sale Assured eliminates total housing expense on departing residence for underwriting purposes with a guaranteed backup offer.
Buyers have 120 days from the time they close on new primary residence to sell current home. If the home is not sold/ closed in 120 days, our affiliate purchases the home and immediately relists the home with your agent, and 90% of the profit from the sale will go back to you.
Equity Tied Up in Your Current Residence? Consider a Bridge Loan
Do you currently own a home, and are looking to purchase your next home, but lack the funds needed to cover your down payment and closing costs?
Bridge loans can help you access the equity on your current property to use for a down payment/ closing costs on a new property.
Closing Thoughts
As your trusted mortgage advisors, we are here to provide tailored solutions to our borrowers. Let’s determine the best program for your needs: Home Buyer’s Edge, Value Assurance, Home Sale Assured, a bridge loan - or a combination!
Give us a call or visit us online to learn how to build a stronger, more competitive offer today.