Cash buyers are hard to beat

Contact a Rate Loan Officer to explore your CashReady options

Rate's Cash Ready is suite of programs where Zavvie acts as a power buyer to back borrowers' offers with cash in specific circumstances and Rate provides permanent financing. Each program has unique borrower and transaction eligibility requirements. Additional restrictions and requirements include, but are not limited to, property and loan type, down payment, Fico score, debt-to-income, income source, and reserve minimums. Program costs, including daily occupancy costs, will apply in addition to lending fees. You can talk to your loan officer to determine which, if any, of the Cash Ready programs would fit your needs. Applicant subject to credit and underwriting approval. Not all borrowers will be approved.

1- Reserve requires that the borrower must qualify for a Rate conditional loan approval and zavvie approval of property and max cash offer limit before receiving the cash buyer addendum. Eligible property types include single family residences, and warrantable condos used as primary or secondary residences or investment properties. Additional property restrictions and requirements apply. Minimum FICO score, down payment and maximum debit-to-income requirements apply. FHA and down payment assistance loans are not eligible. Borrower must have 2.5% of purchase price for deposit (4% if over $1 million). Reserve provides that zavvie will step in to purchase borrower's selected home, with cash, in their stead. Borrower then purchases home from zavvie with a mortgage loan from Rate. Program cost is equal to 1%-1.9% of new home purchase price plus daily interest & insurance, which are outlined in contract agreement. Borrower will sign client agreement committing to buy the home back from zavvie at the same cost for which it was obtained. Not all applicants will be approved. Additional restrictions and costs may apply. 

2- Flex requires that the borrower must qualify for a Rate conditional loan approval and zavvie approval of property and max cash offer limit before receiving the cash buyer addendum. Eligible property types include single family residences, and warrantable condos used as primary or secondary residences and investment properties. Additional property restrictions and requirements apply. Minimum FICO score, down payment and maximum debit-to-income requirements apply. FHA and down payment assistance loans are not eligible. Borrower must have 2.5% of purchase price 4% if over 1 million in reserves. If and when the borrower chooses to use the flex offer option, zavvie will step in to purchase borrower's selected home, with cash, in their stead if borrower is not able to close with their own financing on their close date. Borrower then purchases home from zavvie with a mortgage loan from Rate.
 Program cost is equal to 0.5% of new home purchase price plus daily interest & insurance, if required, which are outlined in the client agreement. Borrower will sign contract committing to buy the home back from zavvie at the same cost for which it was obtained if zavvie is required to step in and purchase the home. Not all applicants will be approved. Additional restrictions and costs may apply. 

3- Signature requires that the borrower must qualify for a Rate conditional loan approval and zavvie approval of property and max cash offer limit. Eligible property types include single family residences, and warrantable condos and must be used as a primary residence. Additional property restrictions and requirements apply. Minimum FICO score, down payment and maximum debit-to-income requirements apply. Down payment assistance loans are not eligible. Borrower must have  2.5% of purchase price (4% if over $1 million) in reserves  . Eligible borrowers will receive a short term loan offered by zavvie Capital Fund 1 LLC, an affiliate of zavvie, NMLS #2461678, which is used to purchase the home. This short term loan is refinanced with permanent financing provided by Rate. Program cost is equal to 1%-1.9% of new home purchase price plus short term loan interest. Borrower will be responsible for closing costs. Available only in select states. Not all applicants will be approved. Additional restrictions and costs may apply. 

4- Rescue assists Rate borrowers who have been approved for financing and are already under contract, but have experienced unexpected delays prior to closing. zavvie will review borrower purchase contract, loan approval, and listing strategy if there is a home sale contingency. Pending approval, borrower will receive zavvie's client agreement and terms. Rescue requires a deposit of 2.5% of the purchase price or 4% for homes over $1 million. Eligible property types include single family residences, and warrantable condos used as primary or secondary residences and investment properties. Additional property restrictions and requirements apply. FHA and down payment assistance loans are not eligible. zavvie will provide funds for closing on time in cash. If borrower must sell their departing residence they will have 90 days to get under contract. Program cost is equal to 2.1% of new home purchase price plus daily interest & insurance costs which are outlined in the client agreement committing the borrower to buy the home back from zavvie at the same cost for which it was obtained. Not all applicants will be approved. Additional restrictions and costs may apply.