Have Questions?

We have answers.

1. General
Is Homeward right for me?

If you need to sell your current home in order to secure your next one, then Homeward is for you. Homeward lets you take the time you need to find your ideal next home before selling the one you’re in. You'll have a relaxed purchase process and avoid the risk of selling first.

How long does it take to get approved?

You can give us the information that we need in just a few minutes. Once we have all of your information, we'll get you approved on your timeline to make a winning offer.

How do I buy a home with Homeward?
  1. Get an approval with Homeward to use our cash.
  2. Make an all-cash offer on any home within your budget.
  3. Offer accepted! Congrats! Now list your existing home for sale.
  4. Lease your new home back from Homeward for up to 6 months.
  5. Close on the sale of your existing home and get a mortgage on your new home. All done!
What benefits do I get from working with Homeward?

First and foremost, you'll be able to make a winning, all-cash offer on your next home without worrying about selling your current home.

There are other important benefits, too:

  • Save time. Stay in your current home while making improvements to your new property. Then only move once and control the timing of your move.
  • Win the Home. Cash offers are 3x as likely to win bids compared to mortgage-contingent offers.
  • Work with your trusted agent. You can continue working with your local real-estate agent, and we'll help guide both of you through the Homeward process.
What is an all-cash offer and why is it better?

Cash offers are 3x more likely to be chosen by the seller and win! A Homeward all cash offer doesn't have financing or home sale contingencies, and it closes faster. This makes your bid to the home seller more competitive.

Where do you get the cash to buy my new home?

Homeward is backed by large institutional capital providers that give us access to their funds so we can make you an all-cash buyer.

How do you make money?

We charge a convenience fee that can be rolled into the purchase price of your new home. To see the convenience fee for your state, visit our pricing page.

How are you able to do this? My existing bank can't do it.

Most buyers need to sell their current home and access their home equity in order to buy a new property. Traditional banks won’t give you credit for that home equity until your old home sells. This forces you to sell your old home first, and then buy your new one.

We give you credit for your home equity before you sell your home. We do this by valuing your existing property during our approval process and using our cash to buy your new home before you sell your old one. It’s a new and better way to buy and sell real estate and we’ve created Homeward to drive it forward.

Do you offer service in my state?

We offer the Homeward service in Texas, Georgia, and Colorado. We plan to launch in additional states soon, and will update this page when we do.

2. The transaction
I found a property I want to make an offer on. Now what?

Congratulations! Before you make the offer, let us know the details. We’ll need the property address and offer price so we can approve it. We typically approve offers within 4 hours, and then we’ll contact your agent so they can make the offer to the seller.

In our offer approval process, we ensure your offer amount is below our estimated resale value so we can confidently make an all-cash offer on the property.

Who makes the offer to the seller?

You and your agent will negotiate and finalize the offer with the seller.

How fast can you close?

Once the seller accepts your offer, we can close in as little as 2-3 weeks. This makes your offer more likely to win the home and lets you move in earlier.

Compare this to a traditional mortgage-backed offer, which takes over 30-60 days to close.

How are you able to close so fast?

We use our cash to buy the home so you don’t have to go through a 30-day mortgage process prior to closing. Plus, we prepare everything in advance, including appraisals, pricing analysis, and title, so the closing process goes smoothly.

What happens after Homeward closes on my new home?

You’ll get possession of your next home as soon as we close on it, then you’ll pay us monthly rent until you get your new mortgage and buy the home back from us.

Should I try to sell my current home as soon as possible after I close on my new home?

It depends on what your goals are.

If you want to minimize the cost of owning both homes at once, then we recommend listing your existing home immediately. This reduces the rent payments you’ll make to Homeward.

If you want to maximize your sales price and avoid the hassle of showings, then we recommend moving out of your existing home and then listing it. This lets you move your stuff out, get the home cleaned up, and then your agent can advertise it, show it, and get you a great price.

Finally, if you want to do repairs on your new home before moving in, you may want to get these started before listing your existing home so you have time to complete them.

With Homeward, you can sell your existing home on your timeline.

What is Floor Price Certainty?

This is just insurance that guarantees your existing house will sell, no matter what, because we’ll buy it from you at a pre-agree floor price if it doesn’t sell for more. 99% of our customers sell their homes on the market and don't sell to us.

Our pricing analysts base this floor price on publicly available real-estate data, current photos of your home, and an in-home inspection. In most cases, Floor Price Certainty is an option you’ll have if you want it. For some unique homes, however, we’ll be unable to offer it.

How much will my floor price be?

Typically 90% of your home’s market value. We also take out the standard 6% agent commission fees.

What happens if you purchase my home at the floor price?

If we buy your existing home, we'll put it back on the market and sell it. You'll still pay us the standard 6% agent commission, and we'll use the funds to cover any real-estate agent and title fees incurred while reselling the property.

3. Agent and Lenders
Can I use my own agent?

Yes.

Is Homeward a mortgage lender?

Yes. As part of the Homeward approval process, you'll need a pre-approval from Homeward Mortgage.

However, you can get your mortgage loan through any lender you choose.

If I am already pre-approved for a mortgage, do I need to go through the “Get Approved” process with Homeward?

Yes. We collect additional information in order to calculate your home equity. Later, we’ll work with your lender so you don’t have to get another mortgage pre-approval.

4. Getting approved with Homeward
What goes into the Homeward approval?

First, we collect information about your current home so we can calculate your home equity. Most of our customers finance their down payments using the proceeds from the sale of their current home.

Next, we help you get pre-approved for a mortgage if you aren’t already. The mortgage pre-approval process analyzes your current financial situation, including your income, assets, and credit.

How much time does it take to get approved?

You can give us the information we need in just a few minutes and then we'll work with you to get you approved on your timeline.

What information do you need to get me approved?

We collect information about your existing home and we require you to complete a pre-approval with Homeward Mortgage.

The mortgage pre-approval ensures you can get a loan later in the process and buy the home back from us. While we require you to get a Homeward Mortgage pre-approval, you are free to get your loan through whichever lender you prefer.

How do you determine how much equity I have in my home?

Our home analyst team conducts a thorough appraisal of your home utilizing publicly available real-estate data. We also send an inspector to make sure we don’t miss anything.

What information will I need to provide to my lender to get pre-approved?
  • Income documents
  • Asset documents
  • Credit score
  • Additional information that will help them get a better sense of your financial situation
What happens after I’m approved with Homeward?

Once we approve you, you’ll be able to make an all-cash offer for the entire amount you’re pre-approved for. Just let us know when you’re ready to make an offer and we’ll review the property and work with your agent to make you a cash buyer!

5. Pricing
How much does it cost?

A low convenience fee plus rent.

Homeward convenience fee:
This fee is a percentage of your new home’s purchase price, and is paid when you buy your new home back from us. The fee varies slightly by state.

Texas and Colorado convenience fee
With Homeward Mortgage discount: 1.4%
Without Homeward Mortgage discount: 1.9%

Georgia convenience fee*
With Homeward Mortgage discount: 1.4%
Without Homeward Mortgage discount: 2.4%

*For homes between $250k - $300k in Georgia, an additional fee of 0.5% applies. So for homes in this price range, the convenience fee is 1.9% with the Homeward Mortgage discount, and 2.9% without it. We don’t yet purchase homes under $250k in Georgia.

Rent: You'll accrue rent on your new home until you buy it back from Homeward. This is paid at closing, and is our cost of holding the property. We don't mark it up in any way. To calculate your rent, we'll need details about the home you're looking to buy. Just start an application or give us a call at 512-956-5087.

When do I pay?

There are no upfront costs for using Homeward. Your convenience fee and rent will be paid when you repurchase your new home from us.

What happens if I sell my home and am able to secure my own funds by Homeward’s close date?

If you don’t end up requiring Homeward’s cash to close on the purchase, then your convenience fee will be reduced to only 1%.

This isn't common, but it can occur if you sell your home faster than expected and either use your home equity funds, or a new mortgage, to purchase the home.

What are the closing costs?

The closing costs you pay in a Homeward transaction are the same as in a traditional home purchase transaction. Homeward covers any duplicate closing costs.

Are there any duplicate costs since there are two transactions?

There are two transactions involved: Homeward pays cash for the property and then you buy the property from Homeward. That said, Homeward covers the burden of duplicate costs so that you don’t have to.

How is the daily rental rate determined?

Our rental rate covers our costs to hold the property until you buy it back from us. We never mark this up, and it's prorated daily so you only pay for the exact days we hold the property for you.

Is there a markup when you sell the house back to me?

No, there is no markup, but you will need to pay your Homeward convenience fee and all rent payments when you repurchase the home from us.

Do you charge any hidden fees?

No. Homeward only charges a convenience fee paid at closing and any daily prorated rental payments that incur while you rent your next home from Homeward.

Do you require a security deposit when I’m renting the new property?

Most Homeward customers do not need to pay a security deposit based on their qualifying assets. To find out whether you will need to pay a security deposit, start an application or give us a call at 512-956-5087.

When do you collect the rent payments?

When you buy the home back from Homeward.

6. For agents
What does Homeward do?

We give your contingent buyers the ability to make an all-cash offer on the home they want so they can secure it before taking the leap of listing their existing home.

What type of client is Homeward suitable for?

Homeowners that need to sell their existing home in order to finance the purchase of their next home but don’t want to list without knowing where they’re going next.

Why would I choose to work with Homeward?
  1. Win more offers. Cash offers are 3x as likely to win bids versus mortgage-contingent offers.
  2. Attract new customers. Set yourself apart by providing a real solution to a real problem your clients face.
  3. Turn prospects into transactions. Homeward gives your clients the confidence they need to move forward.
  4. Earn full commission. Both seller and buyer commissions are protected with no extra work or out of pocket expenses.
Can I still represent my client on the purchase and sale side?

Yes, Homeward doesn’t change your client relationship.

What if my buyer decides not to purchase the home?

Homeward will keep the earnest money, buyer agent commission, and any amount of the additional deposit needed to cover our costs of reselling the home. The customer will also owe rent for all days Homeward owned the property until the date they moved out and a termination fee in the amount of their contracted Convenience Fee.

What does it cost?

Buyers pay a convenience fee and, in some cases, can roll it into their offer through seller-paid closing costs. To see the convenience fee for your state, visit our pricing page.

How does this affect my commissions?

You get paid the full buyer's agent commission when your client repurchases the home from Homeward. If they do not repurchase it, Homeward keeps this commission to cover our resale costs.

You get paid the full listing commission when you sell their existing home to a third-party buyer. If we need to buy the home for our floor price, you receive no commission and Homeward keeps 3% to cover our resale costs.

What happens if my client secures their mortgage by the close date?

If the buyer doesn't end up requiring Homeward's funds to purchase the home, our convenience fee will be reduced to only 1%.

This isn't common, but it does occur when the buyer sells their home faster than expected and either uses their home equity funds, or a new mortgage, to purchase the home.

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