CCM CashPlus — Cash Offers for Homes
When it comes to purchasing almost anything in life, paying cash is just simpler. But in today’s world of finances, cash isn’t always so easy to come by — especially when it comes to large purchases like homes.
But if you could stay competitive in today’s market by purchasing a home for cash, would you? Cash offers for homes are oftentimes more attractive to sellers and more beneficial for buyers. CCM CashPlus is an offer that’s even better than cash for a better homebuying experience, even if you don’t have the funds!
What is CCM CashPlus?
CashPlus is a mortgage loan programs that can be used on conventional mortgage loans — and it’s your competitive edge in homebuying. It strengthens your pre-approval with a cash offer backed by CCM through closing, so you can have peace of mind whether you’re buying or selling. And CashPlus also guarantees closings post-inspection. In a market where homes are receiving multiple offers, this gives borrowers an offer that stands out from the rest, helping them get closer to their dream home.
What is a cash offer on a house?
A cash offer is simple and just what it sounds like: it’s when a homebuyer offers a seller the entire cost of the home without any outside financing, or the contingencies that come with it. Similar to cash offers, CCM CashPlus allows the removal of the finance and appraisal contingencies by backing the buyer’s offer with cash, giving the seller more peace of mind during the home sale process.
CCM CashPlus loan requirements
The property must be your primary residence. You’ll need to meet the requirements for a conventional Fannie Mae or Freddie Mac mortgage for real estate agent-represented customers. Your loan officer will determine your eligibility for the CCM CashPlus program.
How to use CCM CashPlus
Before ever working with your real estate agent and your loan officer, you should set your savings goal to understand your budget for the type of home you want to buy. Once you have an estimate of your number, get pre-approved with CCM and look for homes with your real estate agent that are within your budget. Once you find the one you love, work with your real estate agent and loan officer to craft your CashPlus offer, then sit back and wait for the word “accepted.”
CCM CashPlus FAQs
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Sellers prefer cash offers because they don’t have to worry about financing falling through, or delays associated with the mortgage process. A faster process and cash make a seller more apt to negotiate and accept a buyer’s cash offer.
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A back-up cash offer is our commitment to step in and purchase the house in cash should something happen during the financing process that doesn’t allow the home to close on time.
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Buying a home with cash has the advantages of beating other home shoppers for the home you want, speed and efficiency, and lower closing costs. But this situation might not be perfect for everyone. It’s always best to consult your loan officer to find the right financing situation for you.
Terms and Conditions: Borrower must be approved through FastTrack Credit Approval. CrossCountry Mortgage, LLC cannot guarantee that an applicant will be approved or that a closing can occur within a specific timeframe. All closing timeframes may vary based on all involved parties’ level of participation at any stage of the loan process. Available for first-lien conventional mortgage purchase loans only. Cash offer is contingent on a clean home inspection. Borrower is required to place a minimum of 10% of the purchase price into escrow as earnest money. This offer is not a commitment to lend. All loans remain subject to underwriting and credit approval. Other restrictions may apply. Contact your CrossCountry loan officer for more details.