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GRB’s Cash+Mortgage

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PRE-APPROVED | NON-CONTINGENT | GOOD-AS-CASH

Couple celebrating a phone call from their Realtor telling the their offer was accepted with a Cashy+Mortgage.

A Cash+Mortgage can Help Buyers make a Strong Offer

Cash+Mortgage offers have an acceptance rate of 70% since GRB began offering the program in 2022.

In an ultra-competitive home buying market, having a strong offer improves the possibility of getting your dream home. For qualified buyers1, Genesee Regional Bank (GRB) offers its Cash+Mortgage Program to help them make a stronger purchase offer.

GRB’s Cash+Mortgage is a pre-approval program that helps eliminate the contingencies that can put your offer at the bottom of the pile.

Cash+Mortgage offers are available for conventional, FHA, VA, USDA, and self-employed borrowers.

No additional fees to apply!2

Buyers and Sellers BOTH secure a number of benefits with a GRB Cash+Mortgage:

BUYERS

SELLERS

  • GRB Cash+Mortgage is provided at no additional cost to qualified buyers. GRB does not charge any participation or program fees to apply for a Cash+Mortgage.
  • GRB fully underwrites your loan upfront, assuring the seller that you meet all credit, income and cash-to-close requirements.
  • Make your offer with full credit approval, removing any financing contingency.
  • Your mortgage commitment is subject only to finding a suitable home, a satisfactory appraisal, and other standard conditions.3
  • Close with a mortgage and a competitive rate from a local community bank!
  • On-time closing guaranteed or GRB will pay the sellers $500 per day (up to $2,500) if the loan closing goes past the contract closing date.4
  • The buyer provides an earnest money deposit of at least 10% of the purchase price upon acceptance of their offer (held in escrow by the listing agent).
  • In the event the house does not appraise for the offer price, the buyer agrees to shift down payment funds to cover the difference up to 95% loan-to-value.
  • Work with pre-approved buyers backed by a local community bank!

1Buyer qualifying requirements include: GRB-ordered credit report with score of 700 or above; primary or secondary residence only (no investment properties); conventional and portfolio financing only; income types limited to wage earner, fixed income, assets as a basis for repayment, and self-employed borrowers who have filed the most recent year tax returns (cannot be on extension); and minimum 10% down payment required (borrower must document available funds at time of application for the pre-approval).

2GRB does not charge any participation or program fees to apply for a Cash+Mortgage. Other standard conditions and fees still apply (verification of employment, title, homeowners insurance, etc.).

3To purchase the property as the buyer’s primary or secondary residence and that they will not perform any action detrimental to their credit including opening new debt prior to their closing.
Other standard conditions include but are not limited to verification of employment, title, homeowners insurance, etc.

4Some restrictions apply:

  • The contract is written with at least 30 days allowed for closing.
  • The mortgage application is completed within 2 days of a fully executed contract.
  • The borrower responds to any document requests within 2 business days and provides the requested documents at that time.
  • Title (including survey map) is provided at least 7 days prior to the contract closing date and seller is able to provide marketable title.

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