Dominate with a Cash Offer®
We created our Dominate with a Cash Offer® short-term loan to enable home buyers to use our funds to make a cash offer to purchase a new home. With our program, we provide you with a short-term loan to enable you to pay cash for your new home. We will provide you and a proof of funds letter showing that we have funds allocated for your use that your Realtor submits with your offer. This offer allows you to close quickly and beat other buyers.
We charge a simple 1% origination, along with normal lender fees, when you draw against our short-term loan for your new home purchase. It’s a small cost to pay for the convenience of using our funds to win your dream home. After you close, you can either pay off our short-term loan within six months or we can refinance you into a long-term conventional loan. Should you choose to refinance into a long-term loan with us, we take pride in keeping your overall costs low by subsidizing your refinance.
How it Works
No unnecessary red tape and fast closings.
Get Your Approval
Work with us to get approval to use our money to make a cash offer.
Find Your Dream Home
Search for your next home knowing that you can make a cash offer.
Make a Cash Offer
Increase your chances of winning the bidding war by using our funds to make a cash offer.
Submit an Attractive Offer
Let your real estate offer stand out by submitting a cash offer.
Reasons to Make a Cash Offer
Use Our Expertise
We’ve helped people across the country submit winning bids with cash offers.
Gain the Upper Hand
Cash offers are 4X more likely to be accepted by a seller.
Win the Bidding War
Making a cash offer will maximize your chances of winning the bidding war.
I’ve worked with Jay Hurst on several loans. Jay is extremely knowledgeable and helpful, and was able to advise me on the options for my recent purchase. Great guy to have on your side, and great rates!
Hurst Lending was very easy to work with and stayed in constant contact with me throughout the loan process so I never had to wonder what the status of the loan was.
What Happens After the Loan is Approved?
You and your realtor will receive a Proof of Funds Letter & Instructions.
Approval Email Sample
Mr. and Mrs. Smith,
I am pleased to inform you that your Dominate with a Cash Offer® short term loan/line of credit has been approved. We have allocated funds for your new home purchase. These funds can be drawn as soon as the appraisal for your new property is complete.
I am attaching a copy of a Proof of Funds letter you can use for your offer.
The interest only payment on your short-term line is $____ per month.
Please let me know if you have any questions or if I can help in any other way.
Realtor Instructions Sample
From the Realtor side of the process, our short term loan/line of credit is just like a normal loan with the added advantage that we often provide more liberal underwriting requirements than a typical conventional loan. When you submit an offer there are three documents, we recommend you send to the sellers agent with your offer:
1. Proof of Funds letter (we also suggest that you provide a bank statement from Mr. and Mrs. Smith to document their 5% down payment and use our proof of funds letter to document the other 95% of the purchase price).
2. FAQ document (this is intended to be sent to the seller agent to answer their basic questions about our program), and
3. Addendum/Limited Appraisal Waiver form (this is an amendment to the standard TREC contract we drafted to help Buyer’s agents who are using our program). This document has a limited and full appraisal waiver language for you to use if you want. This addendum also explains how our program works and will hopefully answer any questions the Sellers agent may have about how the contract is drafted. You are fee to use this in your contract but it is up to you to advise Mr. and Mrs. Smith on the implication of purchasing a new home with a Buy Before You Sell line using a limited or full appraisal waiver.
I am also attaching a flyer that explains our full line of Dominate with a Cash Offer® loan programs and here is a link to our website with more details on our program (https://hurstlending.com/dominate-loans/dominate-with-a-cash-offer/). Feel free to share this with the Sellers agent if you think this is helpful.
Please let me know if you have any questions or if I can help in any other way. Hope you get the house!
Your cash offer will gain attention and rise to the top of the other offers.
Close faster since we allocate fund for your use.
A cash offer removes contingencies and is less risk for the seller.
Move into your new home on your new schedule.
Frequently Asked Questions
How do I get started?
It’s quick and easy. Get approved for both a short-term loan and long-term home loan from us in a single step.
Once I am approved, how do I make a cash offer for my new home?
Use our funds to purchase your new home. We provide you a short-term line of credit/loan to enable you to pay cash for your new home. We will provide you and a proof of funds letter showing that we have funds allocated for you use to purchase your new home.
Why does it cost to use the Cash Offer program?
When you draw against your short term loan, we charge a simple 1% origination fee, and the approximate cost to refinance you into a long term loan (after your old house sells) is.25% to .5% in extra fees — in many cases associated with using Hurst Lending to refinance out of the short term loan.
Can you explain the proof of funds letter?
When we send you a proof of funds letter that means you are FULLY underwritten for a line of credit. This is very similar to a commercial line of credit issued by banks. These funds are FULLY available for you to use to purchase a property. The funds are simply waiting for an executed contract, along with an appraisal and clear title to be released to the purchaser.
Is this truly a cash transaction?
It is! The funds are waiting. The proof of funds letter is as good as if the funds are in your bank account.
From the seller’s point of view, is there anything negative about this transaction?
No. The seller will not have to worry about your loan falling out due to DTI, Job History, Buyer Self Employment, or any of the usual reasons a mortgage loan falls through. The short-term loan/line or credit or cash offer also eliminates the need for contingent contracts. This is a cost-free advantage to the Seller.
Dominate with a Cash Offer®
The loan is fully approved prior to making an offer.
SHORT TERM MORTGAGE
For up to 95% of your home’s value
MAKE A CASH OFFER
To purchase home using a Proof of Funds Letter
Commitment that the funds are available.
A SMOOTHER PROCESS
Without typical underwriting constraints.
About Hurst Lending
We have been helping our customers buy, sell, and refinance their homes since 2006. Our personalized approach to the home buying process includes a suite of services that solve common hurdles in the home buying process. Have you ever experienced the frustration of trying to buy before you sell; Losing your dream home in a bidding war; Trying to get a No-Seasoning Cash-out loan; Being unable to obtain a mortgage because your new or old house needs modest repairs; or simply because you prefer using our funds to close quickly without having to liquidate other investments? Our Industry-leading suite of short-term loans solves these issues. We also offer a suite of real estate investor loan products and a full suite of conventional, VA, FHA, construction and traditional home loans.