Introducing
OurStory:
NAF Cash was formed in 2021 with a mission to help provide borrowers a competitive edge in a cash buyer market.
NAF Cash is an affiliate of New American Funding, available in 50 states and helps accelerate the closing process.
BuyersareusingCashtocompete
Aboutone-third(~30%)ofhomesalesgotocashbuyers.
A study by Redfin found that buyers who offered an all-cash transaction were four times more likely to win a competitive offer situation than those who didn’t . 2
1 Builder, November 2023
National Association of Real Estate Professionals, Redfin, March 2022
Ournewmapshowsthe prevalenceofall-cash purchasesacrosstheU.S.,by stateandcounty. Explorethemapat nafcash.com
HowdoesNAFCashwork?
Pre-Approved& FullyUnderwritten Submit CashOffer CashOffer Accepted andClosed YourClient MovesIn Your client moves into their Buy-Back
Your client submits all financial documents to our affiliate, New American Funding.
You get NAF Cash Certified and your clients get NAF Cash Approved.
Your client completes the mortgage process with New American Funding. They buy back the home from NAF Cash. 01 02 03 04 05
Your client finds a home they love, then makes an all-cash offer with NAF Cash. NAF Cash purchases the home. The Rent-Back Period for your client starts. new home.
If they have a home to sell, they can do so at their own pace.
Benefitsfor RealEstate Professionals
• Make a competitive offer with no contingencies
• Get the offer accepted and potentially save buyers money
• Close more homes more quickly with cash
• Secure an advantage over financed buyers
• Gain a competitive edge in the market
• Convenient and hassle free
Benefitsfor Buyers
FirstTimeHomebuyers
• Secure your dream home
• Get all the benefits of a cash buyer (Savings, concessions)
RepeatBuyers(clientswithahometosell)
• Convenience to buy first and sell
• Close faster after at full market value
• Take control of your move (get NAF Cash approved, win the home you want, move in, sell your old home)
• Save time and money with an easy cash buying process
NAFCashParameters
WhatdoesNAFCashCost?
NAFCashtransactionsinvolveaservicefeeof1.5%—5.95%,varyingbystate.*
The service fee is rolled into the mortgage. The buyer doesn't have to pay this out-of-pocket.
The map on this slide indicates the service fees for each state when this deck was published. For the most up-to-date list of state service fees, talk to a NAF Cash Program Specialist. Cash Offer + State Service Fee = Final Purchase Price
Example:ColoradoHome
$300,000 cash offer + 1.95%= $305,850 final purchase price CO service fee
* In NY, service fee is based on the County (up to 5.5%) and the state requires a minimum of 31 days of rent-back.
Howdoesthe Rent-BackWork?
ItbeginswhenNAFCash purchasesthehome
• After the cash offer transaction closes (see step 3), a lease agreement is created.
• This agreement includes rent payments for the period until you take ownership of your new home; aka the ‘Rent-Back’.
• The Rent-Back is calculated as a per-diem (per day) fee based on the purchase price of the cash offer transaction (see chart at right).
• Rent is not collected monthly. A final invoice (out of escrow) will be provided at the closing of the mortgage.
• The Rent-Back period is typically up to 60 days, at which time the rent is due. It can be extended with a month-to-month lease with an increase in the rent amount of 10% each month.
• Rent-Back payment methods include ACH (Electronic), Check, Credit Card, Wire.
Providedonrequest.
NAFCashwasamazingandajoytoworkwith, deliveringoneveryaspectofouragreementwith exceptionalcommunication.Theentiretransaction processwasincrediblypositive,andweeagerlylook forwardtoworkingwiththemagain.
—KatandCecilia,ListingAgents
