I have a new financial sponsor who can turn you into a cash buyer.
If you’re a buyer who is fed up with losing to cash offers, I have good news for you. Many of you might have heard about my rent-to-own program. For those of you that haven’t, it’s a program where a large financial sponsor will purchase any home currently on the market and rent it back to you for the next five years. The good news is that I have another similar financial sponsor that can buy a home for you with cash. Instead of renting the house, you will own it after the escrow period.
You will go in and make an offer as a cash buyer. You can close in 15 days with no contingencies. The only requirement is that there still has to be a home inspection. This is to protect both you and the sponsor.
This is especially good news for people with VA loans. VA loans have always been looked down on because they don’t require any money down and come with lots of requirements from the VA appraisal. However, this financial sponsor only requires a 6% deposit for a VA loan. It’s a deposit, so you can always get your money back at closing.
It’s a little bit trickier for FHA loans. We usually can’t close in 15 days, so the trick is to look for an owner-occupied home. If the seller still lives in the house, they won’t want to close in 15 days anyway. The longer closing just gives them more time to move out. We can close in 15 days with a vacant property, but the timeline is really tight.
FHA, VA, conventional, and non-QM loans all work fine for this sponsor. If you want to buy a house but need to sell your old home first, this is a perfect solution. They can buy the new house, and then you can sell your old home later, or if you have enough equity in your old home, they can provide a bridge loan for you to close on the new home.
There are lots of ways to win in this competitive market. This program could even help in a balanced market because cash is king, after all.
If you want more information about this program and how it can help you, don’t hesitate to call me. I’d love to walk you through the steps to getting your next home.