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How To Make A Non-Contingent Offer

Are Your Contingent Offers Not Getting Accepted?

Purchasing a new home that is contingent on the sale of your departing property can be a long and difficult process.

Anytime you make an offer to purchase a new home contingent upon the sale of your existing home, it negatively impacts your negotiating position. Sellers typically try and avoid accepting offers that are contingent on the sale of another property for fear that any complication could delay or place their own escrow in jeopardy.

Home Point

Financial is extremely excited to announce mortgage products that allow you to exclude payments on your existing property and therefore allow you to close on your new purchase loan under the following requirements:

  • The departing property must already be in escrow and close within 30 days of the new purchase
  • The buyer of the departing house must have all contingencies removed
  • The borrower must have at least six months of payment reserves

This is an extremely unique mortgage program. Most lenders require the sale of your departing property.   Otherwise they count the existing debt against you for loan qualification purposes. Our program allows a qualified buyer the option to make non-contingent offers and even fund the purchase of their new home before the sale of their existing property.