The phrase “cash is king” has dominated the real estate market in recent years. Nationally, more than 36% of single-family homes and condos were cash deals in 2022, according to an analysis by property data provider Attom. 

• Are you still struggling to compete against cash offers?
• Are you losing out on homes after being hesitant to waive an appraisal contingency?  
• Are you concerned bidding above the asking price may prevent you from obtaining a mortgage? 

You don’t have to sacrifice your sanity to compete. The Value Assurance program helps put the power back in your hands when bidding on a property. 

How Does It Work?

The Value Assurance program guarantees the value of a specific property for underwriting purposes. While an appraisal is still required, we use an Automated Valuation Model (AVM) to generate data from previous home sales to create a reliable estimate of a property’s value.

When used in tandem with our credit approval, our borrowers are empowered to bid with full confidence in their financial standing and appraisal findings. If the home doesn’t appraise to the projected value, we will still honor the amount determined by the AVM and the Value Assurance program. 

How to Qualify for the Value Assurance Program

Listed below are the qualifications needed for the Value Assurance program. Reach out to your loan officer if you have any questions about qualifying. 

• Loan-to-value and FICO qualifications must be met by the borrower
• This program is only available to single-family homes and condos
• Subject property must meet conventional underwriting requirements
• MLS listing required
• Conforming and High Balance loans only 
• Appraisal is still required after Value Assurance is delivered 
• Loan may be subject to PMI* 

*Individual circumstances will determine PMI, check with your loan officer for additional details. 

Closing Thoughts

The Value Assurance program is a new and effective way to beat cash offers and increase your odds of getting your bid accepted without accumulating additional financial risk. Give us a call or visit us online to determine if this exciting program is the best fit for you today.