Introducing two new programs that can give you a leg up on the competition.
Recently, low inventory has been making the housing market super competitive. So to help you win the house — even in a bidding war — we’ve introduced our Property Value Certificate and Approved to Close Backup Cash Guarantee.
When you have a Property Value Certificate, the seller knows that the value on your purchase offer is certified — and you can choose to waive the appraisal contingency! So any worries that you or the seller may have about the value vanish into thin air.
When you offer the seller our Approved to Close Backup Cash Guarantee, you can choose to waive both the financing and appraisal contingencies and give the seller a backup cash guarantee. This makes your offer even better than a cash offer!
- Embrace will provide financing based on the certified value, and you can choose to waive the appraisal contingency* — making your offer stronger
- You have more information to determine how much to offer
- Increased confidence in your offer
- The certificate qualifies the property for our Approved to Close Backup Cash Guarantee
- Your offer will exceed even cash offers
- You can choose to waive the financing and appraisal contingencies, making your offer even stronger
- Increased confidence in your offer
- Seller doesn’t have to worry about the sale falling through because they have a backup cash guarantee**
- If the guarantee is triggered, the seller can choose to walk away with $10,000 or have Embrace buy the home for the contract price
- We’re so confident that your financing will come through that if the guarantee is triggered despite your reasonable efforts to obtain financing from us,*** Embrace will reimburse up to $25,000 of your earnest money deposit forfeited to seller as a result of your inability to obtain financing from us
- Must have a fully underwritten approval and an Embrace Property Value Certificate
- Conforming Conventional loans only
- Good for 90 days
*This is not an appraisal and your decision on whether to waive the appraisal contingency is your choice. Doing so may make your offer more competitive. You should carefully consider the risks and counsel of your real estate professional before making your decision. This is not a credit decision or commitment to lend. Subject to underwriting approval and other conditions.
**Backup Cash Guarantee is a benefit for the seller. If triggered, the seller can either accept a cash settlement or require Embrace to purchase the property. In either case, the buyer receives no ownership interest in the property or other benefit as a result. Embrace Home Loans, Inc. expresses no judgment on the actual appraised value of the property and does not recommend waiving the appraisal contingency in every instance. While it may make your offer more competitive, you should consider the risks and consult a real estate professional before making your decision. Subject to final underwriting approval and other conditions.
***In no event shall customer be deemed to have used reasonable efforts to obtain financing from Embrace if customer a) submits materially inaccurate information on the loan application, b) does not act reasonably promptly in providing any additional information requested by Embrace, c) is negligent in causing a material change to their financial condition or creditworthiness before closing, d) withdraws their loan application, or e) otherwise does not act reasonably diligently to satisfy any condition within customer’s control.
Approved to Close is available in AL, CT, DE, DC, FL, ME, MD, MA, NH, NJ, NY, PA, RI, SC, TN, VA, and WV.
- Your offer is as close to a cash offer as possible
- You’re presenting the seller with a fully underwritten approval
- Most pre-approvals are based on credit and unverified income rather than being fully underwritten, and they are only good for 30 to 60 days
- Approved to Move verifies bank records, tax statements, credit scores, income, assets, debt-to-income ratio — and is good for 90 days