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How-to-win Bidding Wars


The Spire

How It Works

  • Offers can look similar to cash
  • Can waive Loan Conditions Deadline
  • Fast Closings
  • Assurance your loan will close, removing stress and guesswork while adding certainty
  • Hit Your Dates
  • Backed with $15,000 assurance from the Lender

Highly Competitive Market

Smart Real Estate agents are doing everything they can to find an edge for their home buyers. They’ve found a big leg up on their competition in a new way to boost their buyer’s offers to the top of the heap in this competitive home market.

With low-interest rates and almost no inventory in certain cities and markets, it’s hard to get buyer’s offers accepted these days. What if there was a way you could set your offer on the top of the stack. A way to make it look more like a cash offer and less like a loan with contingencies that will take a long time – that’s where this program comes in. How it works is your loan is sent through the underwriting process and fully underwritten by an actual underwriter at the pre-approval step of the process. The beauty of this strategy is the loan piece is done before you even put an offer in on a home. How does this help you? Well, there are a ton of benefits to this. The first is since the work has already been done it’s very easy to back the work with a lender assurance. That lender assurance is $15,000. What this means is the lender would agree to pay $15,000 to the borrower (which can be assigned to other parties of the transaction, like the seller) if the loan that they said they had fully approved actually did not get approved for reasons that are related to the lender making a mistake or missing something they should have caught or done earlier.

Strong Buyer’s Offers

You’re probably asking “don’t all lenders already do this when you get a home loan,” and the truth is “kinda”, just not in the order we do it. With our program, we underwrite before you put in buyer’s offers where other lenders wait until after you found a house. Prior to that, they do just the bare minimum which is called a pre-approval of your loan. This pre-approval can be done really well or really poorly depending on the person who is doing it. If the loan originator is brand new they might not do a very good job of finding the things that could hold your loan up from qualifying once the underwriter does a full review. This is why it’s such common practice for sellers’ agents to call the lender and ask them questions about the loan. What they’re really trying to find out is how likely this loan is to close and get approved. Our program removes this concern from the seller and then adds the additional assurance that the job was done well.

It’s very easy to say you are going to do something if you’ve already done it. This is the basis of our program. We don’t mind putting our money where our mouth is on what we will do because we have already done it. We have already fully approved the loan for the income, credit, and assets, and are just needing items that concern the property-related piece like appraisal, inspection, home insurance, and title work when you find a home.

The Benefits

And the benefits go beyond just having a better offer. We can also shorten the time frame that we need to finish the loan up. We’ve already done most of the heavy lifting and there are only a few items to clear that are related to the property. This allows us to shorten our closing and get tighter contracts that will help you win much more often.

Another benefit is even if you have an inferior loan program like an FHA compared to a conventional loan that is harder to get approved for and typically come with a buyer that has inferior credit or down payment, this allows us to ignore that because their real concern is if the loan will close and we’ve removed that by doing the work upfront.

Added Assurance

Finally, one more benefit is you can waive your loan termination deadline altogether from the contract to make it a much stronger buyer’s offer. This basically tells the seller, “Hey, we’re not going to have a surprise right before closing and need to cancel the contract.” It protects everyone, including the seller. No one in a home purchase wants to find out just days prior to closing on a home that they aren’t approved.

So get the certainty and strength that come with a fully Pre-Funded loan that is backed by the lender and holds a $15,000 assurance of completion. There are no costs for using the program. We understand that the benefit to us is helping more people buy homes and creating immense trust with our family of clients and real estate teams that trust us with their most important financial needs day after day.

A Lending Hand for Financing Home Mortgages

Spire Financial (A Division of V.I.P. Mortgage, Inc.) brings lending expertise to you. All of our loan officers offer personalized communication for every client, guiding them through the process. We can show you ways to maximize your finances and unlock future opportunities. Spire Financial keeps you in control of refinancing, debt consolidation, and home equity. Together, we can achieve your financial goals.