Mortgage Programs
GRB’s Cash+ programs provide buyers with a fully underwritten, cash offer that helps eliminate the contingencies that can put an offer at the bottom of the pile.
Preapproved
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Non-Contingent
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Good-As-Cash
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 programs to help them make the strongest purchase offer possible.
GRB’s Cash+ programs provide buyers with a fully underwritten, cash offer that helps eliminate the contingencies that can put an offer at the bottom of the pile.
There are two options in the Cash+ family and there are no additional fees to apply for a Cash+ mortgage program!2 So, don’t wait, contact a GRB Mortgage Originator to see if a Cash+ mortgage is right for you. It may be the extra edge you need to have your offer accepted.
Compare GRB’s Cash+ Programs Below
Cash+Mortgage offers are available for conventional and portfolio loans, as well as for self-employed borrowers with a 10% Earnest Money Deposit.
Cash+Mortgage offers have an acceptance rate of 70% since GRB began offering the program in 2022.
GRB’s NEW Cash+Guarantee is available for conventional and portfolio loans with a 20% Earnest Money Deposit.
GRB will BUY THE HOUSE for the purchase offer amount if the buyer fails to complete the purchase.
* Buyers can have Cash+Mortgage and Cash+Guarantee preapproval letters in use simultaneously. However, only one Cash+Guarantee preapproval letter at a time for a specific property can be issued to a buyer.
Cash+Mortgage offers have an acceptance rate of 70% since GRB began offering the program in 2022.
Cash+Mortgage offers are available for conventional and portfolio loans, as well as for self-employed borrowers.1 There are no additional fees to apply!2
Buyers and Sellers BOTH secure a number of benefits with a GRB Cash+Mortgage:
Buyers
- 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!
Sellers
- 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!
1 Buyer 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).
2 GRB 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.).
3 To 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.
4 Some 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.
GRB’s latest program to help buyers make the absolute strongest offer they can and backed by Genesee Regional Bank.
A GRB Cash+Guarantee means buyers have:
- A completely underwritten loan. All financing contingencies have been removed.
- A 20% or more earnest money deposit with a Loan-to-Value up to 95%.
- A guarantee from GRB that it will BUY THE HOUSE for the purchase offer amount if the buyer fails to complete the home purchase.1
With a Cash+Guarantee offer, both the buyer AND seller secure a number of benefits:
- GRB Cash+Guarantee is provided at no additional cost to qualified buyers.2 There is no participation or program fee to apply for a Cash+Guarantee.3
- Buyers can make a fully underwritten cash offer upfront, without financing and appraisal contingencies.4,5
- A competitive rate and financing program, local loan processing and underwriting, and the full backing of GRB!
1 Buyer acknowledges that following GRB’s purchase of the Subject Property, GRB will attempt to sell the Subject Property. Buyer acknowledges that any losses sustained by GRB in purchasing and reselling the Subject Property will be the Buyer’s responsibility. In this regard, Buyer agrees to fully defend, indemnify and hold GRB harmless from any and all damages, costs and liabilities of every kind and nature it incurs in performing its obligations under this Agreement, including purchasing the Subject Property from Seller, maintaining the Subject Property and reselling the Subject Property. The 20% Down payment held by GRB’s counsel shall be used to pay any losses and as security for this indemnity. The 20% Down payment shall not be a limit to Buyer’s liability hereunder and Buyer shall be responsible for any losses which exceed the Down payment. Notwithstanding the foregoing, if the buyer voluntarily defaults under the terms of the Contract of Sale, the 20% Down payment will be forfeited to GRB and applied toward the aforementioned losses.
2 Buyer 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 20% down payment required (borrower must document available funds at time of application for the pre-approval).
3 GRB does not charge any participation or program fees to apply for a Cash+Guarantee. Other standard conditions and fees still apply (verification of employment, title, homeowners insurance, etc.).
4 Go 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.
5 Some restrictions apply: receipt of 20% earnest money deposit (EMD); 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.
Contact Our Mortgage Team
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Benefits of A Cash+Mortgage
Both buyers and sellers secure a number of benefits through GRB’s Cash+Mortgage program:
Buyers
- 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!
Sellers
- 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!
Important Information
¹ Buyer 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).
² GRB 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.).
³ To 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.
⁴ Some 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.