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  • Guild Mortgage Helps Homebuyers Compete With Cash Offers With New CashPass Program | national company

Guild Mortgage Helps Homebuyers Compete With Cash Offers With New CashPass Program | national company

By on May 16, 2022 0


Guild Mortgage (NYSE: GHLD), a growth-oriented mortgage company that originated and serviced home loans since 1960, has launched CashPass, a new program to help homebuyers compete with cash offers in the competitive housing market. housing today.

Guild’s CashPass program allows homebuyers to write a cash offer with no financing or appraisal contingencies required.

In today’s increasingly competitive housing market, more homes are being acquired through cash offers, making it difficult for potential buyers who need financing to compete. According to recent data from Redfin, potential homebuyers who offer all cash almost quadruple their chances of winning a bidding war, making it the most effective strategy for winning a home in a competitive situation.

The uptick in cash home purchases comes during an ongoing seller’s market. Historically, low supply has tipped the balance and increased buyer demand.

“With less inventory, sellers are getting more strong offers and we want to help our customers compete and win,” said Mary Ann McGarry, CEO of Guild Mortgage. “In this competitive housing market, Guild recognizes the need to help level the playing field for our customers who are unable to make an all-cash offer on their own. Guild’s CashPass program helps buyers make a more competitive offer which can be essential to winning when a seller is faced with multiple offers to choose from. It’s one more thing we’re doing to help keep our promise to be home.

The Guild Mortgage CashPass program is available in 11 states: Arizona, California, Colorado, Massachusetts, Missouri, Nevada, Oregon, Pennsylvania, South Carolina, Texas, and Washington, with more states coming soon.

The CashPass program is available for conventional financing options for homebuyers with credit scores of 680 and above. Qualified homebuyers who need to sell a starter home for their down payment can combine Guild’s exclusive Bridge Loan with CashPass. This allows Guild customers to buy before selling. Guild’s Lock and Shop program can also be combined with CashPass to protect the buyer’s interest rate while they search for the perfect home.

For more information on the CashPass program, eligibility requirements, terms and conditions, please visit https://www.guildmortgage.com/get-started/products-services/cashpass-program/. For terms and conditions on Lock and Shop, please visit www.guildmortgage.com/cap-hbe-terms

Based in San Diego, Guild Mortgage is a leading national lender with an established history of offering a full suite of loan products and partnering with government organizations to help fulfill the promise of a home in every neighborhood and community. Its lending professionals can meet the needs of any homebuyer, whether it’s helping first-time buyers access homeownership, often through government loan programs, or buyers looking for a home. a jumbo loan. Guild also helps active duty and retired military personnel who qualify for VA loans with 100% funding and flexible qualification standards. The company is consistently recognized for its impact in the communities it serves, its commitment to customer service, its strength in regulatory compliance and its corporate culture.

About Guild Mortgage

Founded in 1960 when the modern American mortgage industry was just taking shape, Guild Mortgage Company is a nationally recognized independent mortgage lender providing residential mortgage products as well as local in-house origination and services. Guild’s collaborative culture and commitment to diversity and inclusion enable it to provide a personalized experience for every customer. With more than 4,500 employees and more than 260 retail branches, Guild maintains relationships with credit unions, community banks and other financial institutions and provides loans in 49 states and the District of Columbia. Guild’s highly trained lending professionals are experienced in government sponsored programs such as FHA, VA, USDA, Installment Assistance Programs and other specialty lending programs. Guild Mortgage Company is a wholly owned subsidiary of Guild Holdings Company, whose Class A common stock trades on the New York Stock Exchange under the symbol GHLD.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220516005159/en/

CONTACT: Melissa Rue

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SOURCE: Guild Mortgage

Copyright BusinessWire 2022.

PUBLISHED: 05/16/2022 09:05 / DISK: 05/16/2022 09:06


Copyright BusinessWire 2022.