How to be a Cash Buyer with only 5% Down

For most first-time home buyers looking to buy in San Pedro, Rancho Palos Verdes, or any of the other South Bay neighborhoods, competing in a hot market can make you break a sweat; especially if you are like most buyers and do not have 20% down to buy a home. If you are like most potential buyers thinking about buying a home, the thought of saving 20% for a down payment can load most eyebrows with sweat, especially with today’s prices being what they are. Although it is not impossible to compete with the cool cash and breezy 20% down buyers, it is no secret that most sellers and listing agents prefer working with buyers that have stronger financials. But what if we could turn your dry “5% down, 30-day offer” into an oasis-like “100% Cash, 10-day offer”?

With one of our partner’s new programs, you absolutely can! HomeLight Cash Offer allows buyers who qualify the ability to purchase a property in CASH, under their name, with the ability to close in 10 days. Eligibility:

• A credit score of 620 or more,
• A maximum debt-to-income ratio of 49.9%
• A minimum down payment of 5% down depending on the loan type
• Maximum loan amount: $2,000,000
  

Interested? Learn more!