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Your New Secret Weapon Against Cash Buyers: Same Day Mortgage Approval

Updated: Jul 30, 2023

Carve Out Your Competitive Edge: Close in as Few as 10 Days

Navigating Colorado’s Real Estate Landscape

Navigating Colorado's real estate market can be a tricky task. Housing inventories are low, interest rates have risen, and cash buyers have raised the bar, making the market a competitive arena for real estate agents.

The Cash Buyer Problem: An Uphill Battle

Cash buyers are significant players in this market. Their quick closing times and streamlined transactions have often left buyers reliant on traditional financing at a disadvantage. But there's a silver lining that could level this seemingly uneven playing field.

Your New Ally: Same-Day Mortgage Approval

Enter the Same-Day Mortgage Approval program offered by Guaranteed Rate. With its swift, 24-hour mortgage approval process, this unique tool allows traditional financing to compete directly with cash offers.

Leveraging my comprehensive knowledge of the mortgage industry, my mission is to help you deliver successful home buying experiences to your clients.

Breaking Down the Strategy: Understanding Same-Day Mortgage Approval

The program uses advanced technology to fast-track the mortgage application process, performing thorough vetting within 24 hours, ensuring no compromises on due diligence.

A Winning Game Plan for Realtors and Homebuyers

This program equips Colorado Realtors with a potent tool to navigate the market dynamics. Speed is crucial, and with this program, your clients can compete with cash buyers by making prompt, robust offers.

Homebuyers gain confidence with minimized wait times and accelerated approval, bringing their dream homes within closer reach.

Revolutionizing the Homeownership Journey

The Same-Day Mortgage Approval program transforms the traditional mortgage application process. Digital document submission and rapid approvals alleviate stress and speed up closing.

Pitching the Benefits to Prospective Buyers

When discussing this program with potential buyers, highlight three key points:

  1. Speed: The program significantly reduces mortgage closing time, allowing competitive offers.

  2. Competitiveness: With mortgage approval in hand, buyers can level the playing field against cash offers.

  3. Confidence: Approved financing enables confident bids on dream homes.

  4. Using the Program: A Simple Process

Using the program involves four easy steps:

  1. Access and E-sign: Access your account through my secure portal for e-signing the initial application.

  2. Upload Documents & Earn a $250 Lender Credit: Homebuyers who expedite the process by providing the necessary documentation within an 8-hour window are rewarded with a $250 lender credit.

  3. Securing Approval: My team will swiftly validate income, assets, and credit to issue loan approval in one day.

  4. Close in as Few as 10 Days: With streamlined approval, closing can occur in as few as 10 days.

The Realtor Advantage: Countering Cash Buyers

The Same-Day Mortgage Approval program directly addresses the challenge posed by cash buyers, providing an equalizer that empowers buyers and improves Realtors' chances of closing a deal in a high-demand market.

Closing Faster, Building Reputation, Attracting Clients

Speed is of the essence in the real estate business, and this program delivers just that. With faster loan approvals, Realtors can close deals quicker, enhancing client satisfaction and their reputation.

In Colorado's competitive real estate market, partnering with an experienced lender like me, offering solutions like the Same-Day Mortgage Approval program, can help you stand out. By providing clients with this edge, you position yourself as their go-to choice for home-buying needs.

Take the Next Step

With a grasp of how the Same-Day Mortgage Approval program can transform your real estate transactions, I invite you to seize this opportunity. Instead of being deterred by the challenging Colorado real estate climate, use this tool to empower your clients, streamline your processes, and maintain a competitive edge.

For more information on how to integrate this program into your strategy, reach out. Let's leverage my knowledge of the mortgage industry to equip you with the tools for success.

Contact Information and Best Times to Reach Out

Should you have any questions or require further information, don't hesitate to get in touch. You can reach me at the following contact details:

Don't let opportunities pass by in the fast-paced real estate market. Reach out today, and let's explore how the Same Day Mortgage Approval program can take your real estate business to new heights.


Same Day Mortgage Program: The Key Details

- Successful applicants providing all required documentation within 8 business hours will receive a $250 Closing Cost Credit at closing. This holds no cash value and cannot be combined with other Lender promotions, discounts, or concessions.

- Guaranteed Rate cannot assure that every applicant will be approved or a closing can occur within a specific timeframe. All dates are approximations, varying based on the level of involvement of all parties during any stage of the loan process.

- Sources for Customer Satisfaction: Guaranteed Rate’s Client Satisfaction Surveys 2022 (Averaged).

Same Day Mortgage Terms and Conditions

1. Guaranteed Rate, Inc. (the "Lender") offers eligible customers the chance to receive a loan approval for their Mortgage Loan within 1 business day (the "Offer"), providing they complete an application for a Mortgage Loan and provide the Required Documents within 8 hours of locking a rate (the "Required Tasks Completion Period").

The Required Documents include:

  1. Pay stubs

  2. W2s

  3. Bank statements (including relevant investment and retirement statements)

  4. A copy of a complete purchase agreement for the Mortgage Loan’s subject property

  5. If applicable, proof of disability awards, social security income, retirement earnings, or pension income statements.

2. Successful applicants who provide the Required Documents within the Required Tasks Completion Period will receive a $250 lender closing cost credit, to be used in reducing their Mortgage Loan's closing costs (the "Discount").

3. The Offer's Eligibility:

  • To be eligible for the Offer, applicants must upload all requested documents to Lender’s online portal, MyAccount, within the Required Tasks Completion Period.

  • Eligibility is non-transferable.

Eligibility also requires applicants to:

  • Be a U.S. citizen, permanent resident or non-permanent resident (selected visa categories only) purchasing or refinancing a primary residence in a state where Lender is licensed to originate mortgage loans.

  • Be a W-2 employee or on a fixed income (e.g., pension, social security, or disability income).

  • Meet the requirements to lock a rate.

  • Provide proof of any required down payment funds.

Offer Restrictions:

  • The Offer is confined to conventional or conforming mortgage loans for the purchase or refinance of a primary residence for single-family and planned unit development (PUD) properties.

  • This offer is not available in the states of KY, WV, NY Co-Op/CEMA, and on refinances in TX.

  • The use of self-employment income to meet the debt-to-income (“DTI”) requirements of a Mortgage Loan will render an applicant ineligible for the Offer.

  • Lender does not guarantee a loan approval for all applicants who qualify for the Offer or provide the Required Documents within the Required Tasks Completion period.

4. The Discount

  • Upon qualifying for the Discount, Lender will include the Discount in the final closing costs due at the Mortgage Loan's closing.

  • The Discount is non-combinable with other Lender promotions, discounts, or concessions.

5. The Offer and Discount are subject to all relevant state laws.

6. Lender is an Equal Housing Lender, adhering to federal laws against business practices that discriminate based on race, color, religion, national origin, sex, marital status, age, source of income, or exercise of any right under the Consumer Credit Protection Act.

7. The Offer applies only to customers applying for a Mortgage Loan after the effective date of the Offer, and is not retroactive to existing loan applications.

8. LENDER RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, PROMOTIONS, AND BENEFITS AT ANY TIME WITHOUT NOTICE. Rates and Terms are subject to change at any time without notice and are subject to state restrictions.


Disclaimer: Fred Gallegos is a licensed loan originator specializing in the states of Colorado and Georgia and operates this blog as a private individual. While he endeavors to provide the most accurate and up-to-date information, this should not replace official guidelines and regulations.


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