What is a same as cash Cash Mortgage?
A same as cash mortgage is a type of mortgage where the buyer pays for the property in full, using funds from a same as cash lender like Hurst Lending. With this program a buyer owns the home outright. A same as cash mortgage is an excellent option for buyers who do not have the financial means to pay for a property in full but who want to use our funds to pay cash for a property.
With a same as cash mortgage, the buyer uses our funds to make a cash offer to the seller. Once the seller accepts the offer, the buyer uses our funds to pay for the property in full.
Advantages of a same as Cash Mortgage:
There are several advantages over a traditional mortgage. The main advantage of a same as cash mortgage is that it can make the home buying process much simpler and help you win a property in a competitive market. 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.
How to Obtain a Cash Mortgage:
If you are interested in obtaining a cash mortgage, there are several steps that you will need to take. The first step is to apply for a line of credit with us.
Hurst Lending is a same as cash lender that offers cash mortgages. With our program, you can borrow funds to make a cash offer on a property. This can be an excellent option for buyers who are competing for homes in a tight market or for clients who have the financial means to pay for a property in full but want to preserve their cash reserves for other investments or expenses.
The next step is to find a home that you want to purchase. Once you have found a home, you will need to work with a real estate agent to negotiate the purchase price and submit an offer. Once we approved your short line of credit/loan, we will provide a proof of funds letter to you and your Realtor do document that funds have been allocated for your use. When submitting the offer, your realtor will provide our proof of funds letter to the seller. This letter documents that we have provided you funds to pay cash for the property. It will also help speed up a negotiation process and help you win a deal. Once you have agreed on a purchase price. If the seller accepts the offer, the transaction can proceed as usual, with the seller transferring the title of the property to you with us providing funds at closing.
It is important to note that there are some additional costs associated with a same as cash mortgage that buyers should be aware of. When you draw against your short term loan, we charge a simple 1% origination fee plus normal buyer closing costs specified in your real estate contract. That is all a it costs to use our funds to pay cash for a property. This fee is much lower than what other same a cash lenders offer. Their fees range betwen 2 to 4 percent.
Why Choose Hurst Lending for Your Cash Mortgage Needs?
If you are considering a same as cash mortgage, it is important to work with a lender who has experience in this area. Hurst Lending is a same as cash lender and we specializes in cash mortgages. We can guide you through the process from start to finish.
With Hurst Lending, you can borrow funds to make a cash offer on a property, preserving your cash reserves for other investments or expenses. Our team of experienced mortgage advisors can help you determine if a same as cash mortgage is the right option for you and can provide you with information on the pros and cons of this financing option. We can also help you understand the costs associated with a cash mortgage and provide you with a clear understanding of the entire process.
In addition to our expertise in cash mortgages, we offer a wide range of other mortgage products to meet the needs of our clients. From conventional mortgages to VA loans, we can help you find the financing option that best fits your unique needs and goals.
A same as cash mortgage is a unique financing option that can offer many benefits to homebuyers who are competing for homes in a tight market. For just a 1% fee you can use our funds to Dominate with a cash offer(r) and win your dream home.
If you are considering a same as cash mortgage, it is important to work with a lender who has experience in this area. Hurst Lending is a lender that specializes in same as cash mortgages and can guide you through the process from start to finish. Contact us today to learn more about how we can help you achieve your homeownership goals.
Investopedia: “Cash Mortgage” – https://www.investopedia.com/terms/c/cashmortgage.asp
Bankrate: “What is a cash-out refinance?” – https://www.bankrate.com/mortgages/what-is-a-cash-out-refinance/
The Balance: “What Is a Cash-Out Refinance and How Does It Work?” – https://www.thebalance.com/what-is-a-cash-out-refinance-and-how-does-it-work-1798426
NerdWallet: “How to Get a Cash-Out Refinance” – https://www.nerdwallet.com/article/mortgages/cash-out-refinance
U.S. News & World Report: “What is a Cash-Out Refinance?” – https://loans.usnews.com/what-is-a-cash-out-refinance
Additionally, you can visit the Hurst Lending website for more information on cash mortgages and other financing options: https://www.hurstlending.com/
In addition to being one of the founders of Hurst Lending, I am also an attorney and real estate investor. I have a portfolio of residential and commercial properties. I have been helping our customers buy, sell, and refinance their homes since 2000. Our suite of industry-leading offers helps solve many common situations faced by homeowners and real estate investors. Have you ever experienced the frustration of trying to buy before you sell; Losing your dream home in a bidding war; Trying to obtain a No-Seasoning Cash-out loan; Being unable to get 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.
Please feel free to contact me directly if I can help provide a loan for your next purchase or refinance, or even if you just want advice on how to get started or expand your real estate investing activities.
Scott E. Bialek
Co-Founder, Hurst Lending
*Disclaimer: This article is intended for informational purposes only and does not constitute legal, financial, or professional advice. Consult with a licensed professional before making any financial or real estate decisions.