Compete with all-cash buyers in competitive markets by using Guild’s BuyNow Advantage option. Sellers get the same security as an all-cash offer, and you get the financing you need.
How BuyNow Advantage works?
When you apply with Guild Mortgage, let them know you’re interested in BuyNow Advantage. Then provide the information to get pre-approved just like any other loan. Once you find your new home, your loan officer will provide a BuyNow Advantage certificate for your real estate agent to make an all-cash offer with no appraisal or financing contingencies. We’ll then pay cash for your home if your loan is still in process when the home sale is finalized. With our rental agreement requirement, you can move into your home as soon as it’s purchased by Guild Mortgage.
BuyNow Advantage eligibility
Add BuyNow Advantage to any Conventional loan program
Available for primary residences, second homes or investment properties
Down payment varies based on occupancy
A minimum credit score of 680 is required
BuyNow Advantage plus bridge loan option
Looking to make your next move with an all-cash offer before you sell?
A bridge loan can give you access to your current primary home’s equity for down payment on your new purchase. Ask your loan officer for more details.
BuyNow Advantage plus Lock and Shop option
Want to secure your rate while you shop for a home and write an all-cash offer with BuyNow Advantage? Lock and Shop can give you the option to lock your loan for 120 days while you shop for your dream home.
The BuyNow Advantage program is a unique homebuying experience that turns an offer into cash. This enables homebuyers to be more competitive against other all-cash bids and/or multiple offers.
Yes. If financing is not in place by the escrow closing date, Guild Mortgage or an affiliate will guarantee to pay cash for the home and provide final permanent financing to the homebuyer thereafter.
Yes. The homebuyer can move into the property after executing a use and occupancy or rental agreement. Rent is due and the agreement terminates once the homebuyers purchase loan closes.
Yes. If the Homebuyer chooses to use another mortgage company or bank, Guild Mortgage has the right to terminate the contract and keep the deposited BuyNow Advantage participation fee and EMD.
The BuyNow Advantage program provides the homebuyer with a fully underwritten credit approval. This gives the homebuyer the ability to make an all-cash offer backed by Guild Mortgage. If Guild Mortgage purchases the home on buyer’s behalf, then Guild Mortgage will transfer the home to them with permanent financing.
Conventional financing on primary, second homes and investment properties are eligible with a minimum credit score of 680. Down payment requirements will vary based on occupancy type.
Yes. The offer must be contingent on a home inspection to verify safety and livability of the home, and Covenants, Conditions & Restrictions (CC&Rs) if applicable to the property being purchased. There is a minimum requirement of 7 calendar days for the contingency period for the home inspections and CC&Rs unless Guild Mortgage agrees on a shorter timeframe in writing. Pre-Inspections are permitted.
Yes. The Purchase and Sale Agreement (PSA) must be written with the homebuyer’s name and Guild Mortgage as Nominee-and or assigns. The PSA must also include Guild’s BuyNow Advantage program PSA addendum as a clause and/or real estate addendum based on state requirements. The PSA must reflect a minimum of 14 business days until the close of escrow.
Guild Mortgage’s Bridge loan can help! If the homebuyers need the equity from the sale of their existing primary residence to meet the down payment required, our Bridge loan program might be an option.
Ready to get started?
Contact a Guild Mortgage loan officer and let them know you are interested in the BuyNow Advantage program.
