All Cash Offer Program

How does the All-Cash Program work?

There are two different closings: A cash closing & a mortgage refinance closing

Step 1: Cash closing- a cash loan is provided to the borrower to fund their purchase. The cash loan will fund up to 95% of the purchase price with the remaining amount coming from the borrowers down payment.

Step 2: In the mortgage refinance closing, the borrower refinances their short-term cash loan into a permanent mortgage. The refinance takes place within 30 days of completion of the cash offer closing.

SPECIFICS

• Available for Conventional, FHA, VA, & USDA Loans
• Same qualifying guideline requirements for each apply
• Cost to the borrower to participate is 1% of the purchase price.
• 5% down payment and all closing costs
• Credit score, DTI, mortgage insurance, seller concessions, and all prior loan default waiting periods are based on the selected refinance loan program guidelines.