Did you know that you can buy a home with cash right now and then immediately turn around and pull the majority of that cash out of the property? This is a tactic not commonly known and can change the way you purchase your next home. 

As we all know, cash is king! So, if you have enough cash to buy the home outright, you most certainly should win the offer. Cash offers are the most attractive to sellers when wading through the dozens of offers they are going to receive. It will beat any loan products out there and typically will only lose to other cash offers. Then after winning the home with your cash offer, you can tap into your home’s equity immediately to recoup a large lump sum of your funds! This is a win-win situation, as you can secure the property with the cash offer (again, difficult to win a bid in this market) and then establish financing so you can keep your money and make manageable monthly payments. 

Here’s another fantastic benefit of delayed financing. You don’t have to wait 6 months to pull the equity from your home like you typically would with a cash out refinance. This allows you the freedom of being able to use your money for other purposes and not being tied up in the property. This is a great option for investors who want to use their assets to purchase a property, then take the money out to go and buy the next home. 

Not many homebuyers know about this option and can get you into your dream home faster and recover a large portion of the assets used. It’s a no brainer for those who can. If you are interested in learning more about delayed financing or have any mortgage questions, please call us at Chissell Mortgage Group at 727-376-6900.

NMLS ID: 327290; NMLS ID: 2062741

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