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Become A Cash Buyer With Our Cash Compete Program

Become A Cash Buyer With Our Cash Compete Program

Bob The Broker
Bob Friel
Published on August 11, 2022

Become A Cash Buyer With Our Cash Compete Program

Have you heard that some homeowners are getting 50 or more offers on their homes when listed for sale? In this video, I'm going to show you how our all-cash power play will help you navigate today's competitive market. I'll give you 6 reasons why cash buyers have the advantage and how our program will help you win your dream home.

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A Competitive Market

Why the heck is it so difficult to get under contract in today’s real estate market? The answer is one simple word: competition. As a homebuyer, you have to compete against others that want the same dream home you fell in love with.

Fear not: our all-cash power play is here to help. Cash is still king, and you can easily take the throne with Friel Good Mortgage. We’ve partnered with Home Point - one of the biggest wholesale lenders in the United States - and Accept.inc, a short-term cash provider. With their help, we can help you rise above the competition.

Verify your mortgage eligibility (May 30th, 2024)

The Cash Advantage

As you start the home buying process, you may be wondering how being a cash buyer benefits you. Let's look at six benefits of being a cash buyer to help you better understand the advantages.

First, buyers with cash are four times more likely to win the home than those without. Second, cash borrowers can close on a home purchase in as few as 10 days. Third, there are no financing contingencies or appraisal contingencies. Fourth, you can work with any real estate agent that you choose. Fifth, cash buyers save an average of $13,000 in multiple offer situations when compared to the highest offer.

Finally, we can utilize our Lock and Shop rate protection program to help you save even more throughout the process of your home loan. But what does that mean? This means we can lock your interest rate in today. If rates increase, you’re safe. If they get better or drop, we can float down to the current market rate once your offer gets accepted. This is an additional win-win scenario.

Verify your mortgage eligibility (May 30th, 2024)

Our Cash Compete Program

The Cash Compete Program is offered in collaboration with Accept.inc, a lender that’s focused on short-term loans for home purchases. As the buyer, you must be able to qualify for a conventional mortgage with at least 5% down. You're also responsible for the down payment solution fee - which is 1% of the loan - and any settlement fees and closing costs associated with the first home transaction.

This program is available for owner-occupied second homes or investment occupancy properties. An acceptable appraisal will be ordered by our team; this is required for the conventional mortgage and will be applied for and underwritten after the cash home purchase loan closes. Buyers can close with cash in as little as 10 days with no mortgage or appraisal contingency.

After the cash close, my team and I will help you apply for and close on a refinance conventional mortgage with our lending partner Home Point. Keep in mind that the refinance must take place within 30 days of the cash home purchase. You must have an acceptable appraisal between the cash closing and the mortgage closing.

Verify your mortgage eligibility (May 30th, 2024)

A 3-Step Process

Every cash offer is backed by Accept.inc, and there’s also a money-back guarantee. Overall, the program works in a simple three-part process. First and foremost, we’re going to get you pre-approved with cash. You as the eligible homebuyer get pre-qualified with a credit pre-approval and a preliminary cash offer approval.

Next, you make your all-cash offer on the home with a short-term loan. Accept.inc will provide you as the borrower with an estimated home valuation before the appraisal with our banking partner. You’re going to close with cash with the support of my team and I, Home Point, and the bank. Within 30 calendar days, we will order the appraisal and complete the underwriting of the refinance mortgage loan application.

Getting Started

If you want to become an all-cash buyer with our program, getting started is very simple. Click here to answer a few quick financial questions and you'll get an instant pre-qualification certificate. My onboarding team will then reach out to you via email or text to validate a couple of the answers that you submitted in the form.

Verify your mortgage eligibility (May 30th, 2024)

After that, they'll get you on my calendar for a quick 15 to 20-minute discovery call. This is a basic meet-and-greet where we’re going to begin to customize your home loan and your home buying journey together. So please don’t wait. We only take on five new clients a week, so I would suggest you reserve your spot today.

Make sure to reach out to us here at Friel Good Mortgage and we'll be happy to hear from you. Don't forget to subscribe to my channel so you never miss a video, and stay tuned for more real estate tips on the next episode!

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Bob The Broker
Bob Friel Bob The Broker
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