November 27, 2013 Leave a comment
Many real estate markets have become very competitive in the last year, with bidding wars, cash buyers, and a need for fast closings. To help our clients keep their edge in this environment, BluFi Lending is excited to announce our new Forward Advantage Buyer (FAB) approval program. It is designed to help homebuyers stay competitive by providing underwriter approval before buyers look for their dream home. We think it’s FABulous because once the home buyer finds their perfect home, they can immediately put down an offer with no waiting.
Here are the highlights of FAB:
- The goal of the program is to get homebuyers appropriate loans for their budget, based on verified numbers. Like all of our programs, transparency is fundamental!
- FAB comes with a full home loan approval by an underwriter minus appraisal, title, and escrow so borrowers can immediately put in an offer when they find a home.
- With a FAB approval, BluFi can close on a loan 17 days after the buyer chooses their dream home and opens escrow.
How is FAB better?
- With a FAB approval, homebuyers know the true loan amount they qualify for. No guess-timates followed by disappointment. Our clients know their qualified numbers up front.
- Real estate professionals and sellers are more confident in FAB-approved buyers because an underwriter-approved loan means a quick close.
How is FAB different?
- FAB is the strongest approval available because it is based on verified credit check and documentation and is approved by an underwriter prior to finding an actual property. More preparation up front means FAB approved buyers are able to make offers and close on loans much faster.
“The FAB program is our way of putting families in the right home with the right loan,” said BluFi Lending President and CEO, John Lee. “We’re helping our clients stay competitive when they shop for their home, but we’re also acting as a responsible lender. In the past, many people were given loans that were too expensive without the proper education on their options. With early input from underwriters, the FAB program will help borrowers make smarter financial decisions and choose the loan, and the home, that’s perfect for them.”
If you have any questions about the FAB program or would like a free consultation with one of BluFi’s mortgage bankers, we would be happy to discuss your needs. Give us a call at 1-800-644-7779.