No Cash Offer?!

As we all know by now, the real estate market has taken off astronomically over the last 2 years. This has lead to an abundantly clear supply & demand issue. We have almost no supply and endless demand in almost all markets across the United States. This paired with interest rates abruptly rising, has made it very difficult for most people to purchase homes. Especially because there are still so many people snagging the already limited supply of homes with all cash offers. According to REDFIN, in 2021 nearly 30% of homes purchased were cash deals. https://www.redfin.com/news/all-cash-home-purchases-2021/

At Peoples Mortgage, we understand how frustrating this market has been for the average home buyer. Most people just don’t have access to large amounts of cash. So we flipped the script and rolled out our Quick Buy Program – which turns the average home buyer needing conventional financing into an ALL CASH buyer!

The way this program works, is for well qualified individuals who are completed pre-approved though Peoples Mortgage, our investor group will place an all cash offer with no appraisal or financing contingencies on the home the buyer and their REALTOR choose. Simultaneously we will open up a 2nd escrow and sell the property to our end buyer at the same exact price, utilizing our conventional mortgage products. Both escrows will close in tandem.

This product has made it possible for so many more people to achieve the dream of home ownership. This mitigates the need for putting in scores of offers and continuously getting beat out by someone snatching up the property with all cash!

If this is something you or a client of yours is interested in hearing home about, please reach out!

Mark Tomaszewski | Sr Loan Officer

LO Licensing: AZ LO-0930956 CA-DBO1379363 NV-75577 NMLS-1379363  Company Licensing: Peoples Mortgage Company, A DBA of Moria Development, Inc. AZ BK-0904164 California – FLL603L266 / RMLA4130661, Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act : www.peoplesmortgage.com/privacy-policy NV-4200 NMLS-6274. Equal Housing Lender/

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