Buying a home is a smart investment, but not always easy! Currently, we’re experiencing a competitive seller’s market, so you may be wondering, “how can I make my offer stronger to get the home I want?” Working with our clients’ experience, we created the new Direct Mortgage Loans Strengthen Your Offer Program to provide a mortgage product to…strengthen your offer! 

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Why Is This Program Necessary 

We have noticed two main obstacles in today’s competitive home buying market:  

  1. Offer acceptance – With so many buyers competing for the same home, the chances of an offer being accepted are slim.  
  1. Contingent offers – This corresponds to the first challenge (offer acceptance). In this competitive market, contingent offers struggle to be accepted – especially when the contingency is based on the buyer selling their current home. 

If you need the equity from your current home to purchase a new home, this program offers stronger financing to make that possible! 

Strengthen Your Offer Program 

This is an in-house program at Direct Mortgage Loans; thus, everything is handled internally so there are no hiccups from a third party. This product is meant to be simple, effective, and to increase the buyer’s chance of having the home they desire accept their offer.  

How It Works 

This program allows the buyer to use equity from their current home towards a down payment on a new home. This allows the buyer to provide a stronger down payment (higher down payment amount), which will increase their chance of sellers accepting their offer.  

Additional program guidelines: 

  • 85% CLTV on current home 
  • Loan amounts up to $350K 
  • Credit score 680+ 
  • DTI 45% 

Now, to take it a step further, this product will be work hand-in-hand for the borrower in conjunction with a Direct Mortgage Loans mortgage for a new home. Both loans will close at the same time, or close to the same time.  

How Does This Differ from Other Programs?

You may have heard of cash offer programs and bridge financing. These programs attempt to offer a similar solution; however, they tend to get very confusing and tricky. The Direct Mortgage Loans Strengthen Your Offer Program is a much simpler alternative.  

To learn more about the program, or to get qualified, contact a team member today