All Cash Offer Program

How does the All-Cash Program work?

The All-Cash Program is a cash-backed homebuying option that may allow eligible borrowers to make an offer without a traditional mortgage financing contingency. The program generally involves an initial cash-backed purchase followed by permanent mortgage financing, subject to program requirements and borrower qualification.

Step 1: Cash-backed purchase – Short-term financing may be used to complete the home purchase. Borrowers are responsible for any required funds, closing costs, and other applicable expenses based on the program and transaction.

Step 2: Permanent mortgage financing – After the initial purchase, the borrower applies for permanent mortgage financing to repay the short-term financing. Timing and eligibility for the permanent financing depend on the selected loan program, borrower qualifications, property requirements, and applicable lender or investor guidelines.

SPECIFICS

• Permanent financing options may include eligible conventional or government-backed mortgage programs, depending on program requirements and borrower qualifications.
• Borrowers must meet the qualification requirements of both the All-Cash Program and the selected permanent mortgage program.
• Program participation costs and other applicable fees vary and will be disclosed in accordance with applicable requirements.
• Required borrower funds, including any down payment and closing costs, vary based on the program, transaction, and permanent financing selected.
• Credit, income, assets, debt-to-income requirements, mortgage insurance, property eligibility, seller contributions, and prior credit event requirements are determined by the applicable loan program and underwriting guidelines.
• Program terms, costs, eligibility requirements, and availability are subject to change.