▪ NAFCash,LLC. isan affiliateofNew American Fundingthat helps buyers purchase a home withcash.
▪ It’sthe all-cash buying program available inallStates.
▪ We helpyourbuyer secure theirdream home and stand outwitha cash offer.
▪ Cash flow
▪ Timely closings (10-14days)
▪ Asolutionforyour standing inventory
▪ We’llworkwithyourcontract
▪ Help you meet quarterly goals
▪ Make contingent buyers non-contingent
▪ Builder concessions rollover to the buyer's mortgage
▪ Buyers can move into their new home before selling their old home
▪ Avoid the hassle of moving twice or paying for storage
▪ Enjoya stress-free move without rushing
▪ Avoid the extra cost of a short-term rental
▪ Buyershavemore time to stage,repair, and get top dollar for their current home
NAF loan officer reaches out to buyer to gather updated income and asset documentation and prepares for final underwriting
Docs go out to be signed and ready to fund, once proceeds from sale are received.
Buyer is officially a homeowner
▪ NAF Cash charges a transaction fee of 1.95%-5.95% of final purchase price (varies by state)
▪ Can be offset by Seller concessions so, the buyer doesn’t have to pay out-of-pocket
▪ Fee is included as part of the Buyer’s is pre-approval so, there’s not surprise costs later
Leaseagreement must be signed prior to the future homeowner moving in.
Rent back calculation is based on the new home purchase price (see chart at right).
▪ Rentstarts on day1 from NAF Cash purchaseclosing. It is charged perdiem andis not due in the first 60 days.
▪ After 60 days, rent payments are due. If needed,the lease canbe extended on a month-to-month basis with a 10%increase applied each month, payablemonthly.
▪ Rent back payment methods include ACH(Electronic), Check,Credit Card, Wire, andgift funds.
▪ Who do I call when I have a buyer interested in NAF Cash?
Contact your New American Funding Loan Officer.
▪ How is the NAF Cash fee paid?
Typically added to the purchase price in the final mortgage. Alternatively, it can be covered through seller concessions.
▪ How long does it take to close a NAF Cash transaction? It usually takes up to 14 days, but it can close in as little as 6 days.
▪ Who is going to send me the contract instructions?
Once the client is pre-approved by UW and NAF Cash approved, a NAF Cash transaction coordinator is assigned. The TC will make an introduction call and will be NAF Cash main point of contact.
▪ How long does the buyer have to sell their current home?
Rent remains the same for the first 60 days. After day 61, rent increases by 10% each month until the home is sold.
▪ Does the home buying process change?
No, the process stays the same. Buyers still choose options, do their orientation, final walk-through, and warranties remain in place.
▪ When a contract is reassigned, how does the EMD work? NAF Cash coordinates remaining EMD to be deposited to title company. (Conventional loans 5% total between Builder and NAF Cash; 1.5% total on VA loans).
▪ When does the rent back start? It starts on day 1 after cash purchase closes and is charged on a per diem basis.
▪ Who do I write the cash contract to? You would write the contract to NAF Cash, LLC.
▪ Are seller concessions allowed?
Yes, it must be written as seller credit in the cash contract between the builder and NAF Cash, LLC.
▪ Is the same process with a Real Estate Agent?
Yes, buyers REA will represent NAF Cash to buy the property from the Builder