Buy Before You Sell with NAF Cash

While buying a new home is one of the biggest and most exciting purchases the average family will ever make, coordinating the timing of selling your old home and buying your new one can put a damper on this exciting time. NAF Cash^* understands the financial pressure that coordinating these transactions can cause and we're here to help!

The Home Selling and Buying Conundrum

Selling your old home in order to pay for your new one is a necessity for most families. However, many houses are only on the market for a matter of days (or sometimes even hours), making it impossible to coordinate selling your old home and making an offer on your new one that quickly.

Many families have opted to sell their old home before ever even looking for a new one. This results in costly and uncomfortable hotel stays, along with the headache of storing their possessions and dealing with cumbersome leases that come with storage unit rentals.

That's why NAF Cash created a better way.

How NAF Cash Can Help

Rarely does anyone have hundreds of thousands of dollars to buy a new house just lying around, meaning paying with cash is usually out of the question regardless of housing prices. But with NAF Cash you could!

Rarely does anyone have hundreds of thousands of dollars to buy a new house just lying around, meaning paying with cash is usually out of the question regardless of housing prices. But with NAF Cash you could!

This is a great solution for relieving the pressure that comes with selling your current house to fund your new home purchase. With NAF Cash, you don't have to sell your previous house before you're able to move into your new home, so you won't have to take the first offer that comes along. This gives both buyers and sellers more flexibility.

Your Debt-to-Income (DTI) Ratio Isn't an Issue

One of the most important elements of the homebuying process for a mortgage lender is calculating your DTI ratio. The DTI ratio is a figure that represents how much of your monthly gross income (your income before taxes) goes to paying your monthly debt and other accounts. This is determined by adding all your monthly debt payments together and dividing that by your monthly income before taxes. Lenders usually require that your DTI be below a certain percentage before they are willing to approve you for a loan.

If you're trying to coordinate selling your current home and buying a new one, your DTI can make a big difference. You may have trouble securing your new home loan because of the amount of debt you still owe on your current home. NAF Cash understands this complexity, and the cash offer is not based on your DTI calculation.

This gives you the flexibility to buy your new home with cash. Sell your old home for the right price, then secure the mortgage for your new home based on the DTI ratio you have after selling your old home.

How Does NAF Cash Work?

NAF Cash starts by gathering information, evaluating your needs, and then matches you with a New American Funding^* loan officer who can help you get pre-approved for a mortgage you can use to finance your home. Then, once you've found your dream home, NAF Cash helps you make a cash offer on your chosen home.

Next, you're ready to move in! Your loan officer will continue working with you to find the mortgage that's best for your personal financial goals. Once you determine which one of their offered loans make the most sense for you, you settle on the terms, and when it's approved, you'll begin making monthly payments as normal.

In addition, if you need to sell your old house, you'll rent your new one from us until it's sold and you can get your permanent financing in place^**. It is important to note that you will still have to fulfill the standard requirements to get approval for whatever loan product works best for you, like a home appraisal, inspection, credit requirements etc.