1
.
Get approved
We approve you for a specific amount so you can start shopping and be ready to make an offer as soon as the home you want comes on the market.
WHAT HAPPENS AT THIS STEP
You will
Fill out our application.
Work with a Loan Officer Assistant to provide any necessary documentation. Please check your email (and spam folder) frequently and promptly return phone calls. We often have follow-up questions during this step and the faster you respond, the faster we can reach an approval decision.
Meet your Customer Experience (CX) Manager, who becomes your point of contact at Homeward once you’re approved.
Your agent will
Search for a home that meets your criteria if you haven’t already found one.
Behind the scenes
Your point of contact
Homeward Advisor
2
.
Make a Homeward Cash Offer
Your agent will make a cash offer on the home you love.
WHAT HAPPENS AT THIS STEP
You will
Work with your agent to submit an offer request to us.
Sign our Service Agreement Addendum.
Research your financing options and choose a lender. If you're using Homeward Mortgage, schedule a call with your Loan Officer to review the loan terms and pricing.
Your agent will
Submit an offer request through their Agent Dashboard.
Work with your CX Manager to write a Homeward Cash Offer.
Submit the Homeward Cash Offer to the seller’s agent.
Behind the scenes
The Valuations team reviews the home you want to make an offer on to determine if it's eligible for our program.
Your point of contact
Customer Experience (CX) Manager
Your CX Manager can answer any questions about the Homeward program.
Log into your Customer Dashboard to find your CX Manager's contact information.
3
.
Win the home
The seller accepts your offer. We work with your agent to finalize the purchase.
WHAT HAPPENS AT THIS STEP
You will
Pay your earnest money deposit (EMD) and option fee, if applicable.
Work with your lender to finalize the details of your loan.
Sign the Customer Purchase contract and addendums, securing your purchase and possession of the property from Homeward.
Work with the Transaction Support team and your agent to sign the residential lease so you can rent your new home from us while you wait for your mortgage to be finalized.
Your agent will
Work with your CX Manager to draw up the Customer Purchase contract and addendums you’ll sign.
Return the home inspection report to your CX Manager for review. Agree on any next steps.
Capture any price and/or credit negotiations in amendments to both the Homeward Purchase and Customer Purchase contracts.
Behind the scenes
The title team completes a title examination, issues a title commitment, and discloses all exception documents to purchase the home.
We order the preliminary appraisal of the home and receive the report within five days. Your CX Manager will reach out to review it with you.
The Mortgage Processor initiates your loan.
Your points of contact
Your lender
Your lender can answer any questions related to your mortgage, such as your closing date, closings costs, etc.
Customer Experience (CX) Manager
Your CX Manager can answer any questions about the Homeward program.
Log into your Customer Dashboard to find your CX Manager's contact information.
4
.
Move into your new home
We’ll close on your home as soon as the title is ready. You can move in the very next day and rent from us until you buy it back.
WHAT HAPPENS AT THIS STEP
You will
Move in!
Your agent will
Give you your keys on closing day.
Behind the scenes
Your prorated rent starts accruing on the new home.
Your point of contact
Customer Experience (CX) Manager
Log into your Customer Dashboard to find your CX Manager's contact information.
5
.
Buy back your new home
Secure a mortgage and close on your new home by buying it back from us.
WHAT HAPPENS AT THIS STEP
You will
Your lender will order a final appraisal of the home. We used a preliminary appraisal for the Homeward Purchase. But mortgage regulations dictate that your final appraisal must happen once Homeward is the seller.
Work with a Mortgage Processor to collect all necessary documents and work towards getting the clear to close.
Discuss your closing disclosure (CD) with your Loan Officer.
Your agent will
Verify the lender is using the most up-to-date and complete version of your purchase contract.
Behind the scenes
We provide you with a final rent invoice and any applicable discount credits.
Your title company works with your lender to prepare to close on your new home.
Your points of contact
Your lender
Your lender can answer any questions related to your mortgage, such as your closing date, closings costs, etc.
Customer Experience (CX) Manager
Your CX manager can answer any questions about the Homeward program.
Log into your Customer Dashboard to find your CX Manager's contact information.