Here are the answers to the questions we hear most often from homebuyers.
The APPROVAL PROCESS
How long does it take to get approved to use Homeward?
I understand you do a credit pull. Can you tell me more about that?
What information do I need to provide to get approved to make a Homeward Cash Offer?
If I am already preapproved for a mortgage, do I need to go through the approval process with Homeward?
Can you help me purchase new construction?
My current home is already under contract. Can you still help me make a cash offer?
How do you determine how much equity I have in my home?
What happens after I’m approved with Homeward?
Homeward cash offers
What is the Homeward Offer and why is it better?
How do you make money?
Where do you get the cash to buy my new home?
PRICING and FEES
How much does it cost?
Do you mark up the house price when you sell it back to me?
When do I pay the program fee?
What if I make an offer that doesn't win?
Do I have to make an earnest money deposit when I use Homeward?
Do I have to get my loan from Homeward Mortgage to use your services?
Are Homeward Mortgage's rates competitive?
Tell me more about carrying costs.
Will I need to pay a security deposit to rent my new home?
How do property taxes work?
How does insurance work while I’m renting my new home from Homeward?
Are pets allowed while we’re renting the home?
BUYING A HOME
Can I use my own agent?
Does my agent still make money off the transaction?
What if I need to sell my old home before I can buy back my new home from Homeward?
Is Homeward a mortgage lender?
Are there benefits to using Homeward Mortgage instead of another mortgage company?
I found a property I want to make an offer on. Now what?
Who makes the offer to the seller?
How does the appraisal work? Can my client waive the appraisal contingency?
Who orders the inspection?
Why are there two closings with two different contracts when I use Buy before you sell or Buy with cash?
How fast can you close?
What happens when Homeward closes on my new home?
How soon do I have to buy back my new home from Homeward?
What does “possession pursuant to leaseback” mean?
How do you handle the residential service fee in Texas?
How do you handle seller credits during the buyback?
SELLING A HOME
What happens if you buy my home at the floor price?
Will you buy my old home?
What is Floor Price Certainty?
How do you determine my floor price?