What does it cost to use HomeLight Cash Offer?

When you use HomeLight Home Loans on your new purchase, the HomeLight Cash Offer fee is 1% of the home purchase price. If you use another mortgage lender, the fee is 3% of the purchase price. The minimum fee for any HomeLight Cash Offer purchase is $3,000. Additional costs may apply based on local tax laws.


Who’s eligible for HomeLight Cash Offer?

HomeLight Cash Offer is available to those who fit the following criteria:

• Credit score of 620 or above

• Jumbo loans: 20% down, plus reserves

• Conforming loans: 5% down

• A max debt-to-income (DTI) ratio of 43% for jumbo and 49.9% for conforming

And properties that are one of the following:

• Single-family home

• Townhome

• Condo* (subject to property approval).


How quickly can I make an offer on a new home?

It takes 1 business day to underwrite and conditionally approve you for HomeLight Home Loans. Additionally, it takes 1 business day for us to approve the property you want to buy with HomeLight Cash Offer. The approval of the property includes a valuation so we can waive your appraisal contingency and a full review of the disclosure packet and seller provided inspection reports if you would like to waive your inspection contingency. With approvals in hand, we’re ready to make an all-cash offer on your behalf.


Is there an appraisal or loan contingency in the offer?

No, we are able to waive both the appraisal and loan contingencies in our all-cash offer. This is because we have fully underwritten both you as a borrower and the property itself. An appraisal will be ordered and completed for your loan to close on the property. If for some reason the property appraisal comes in below the purchase price of the property, we have already underwritten you to ensure that you will still have sufficient assets to close on the property.