Buy Before You Sell

What Is HomeLight?

HomeLight is an exciting new technology platform offering homebuyers a Buy Before You Sell program that unlocks home equity and removes home sale contingencies.

How Does the Buy Before You Sell Program Work?

HomeLight will complete an analysis of your current home including mortgage balances and other factors to provide a guaranteed non-contingent backup purchase offer for the home. They will also determine the maximum equity you can free up through their “Equity Unlock” offer.

Their guaranteed backup offer removes contingencies on your next purchase and the “Equity Unlock” amount will be applied towards the down payment on your new home!

Four-Step Process

We Leverage HomeLight’s Technology

Once HomeLight has everything they need from us, you, and your agent, they will complete their analysis and provide Equity Unlock and guaranteed backup purchase offers.

Get More Accepted Offers!

Your offers will stand out from the competition since they will be non-contingent. Your Equity Unlock amount will be converted into an interest-free down payment that is sent directly to the settlement agent for your new purchase.

Sell Your Previous Home

Your agent will have 10 days after your new purchase closes to list your previous home if they haven’t already. If the home closes within 90 days, the proceeds from the sale will repay the Equity Unlock and the HomeLight program fee*, and any excess funds will be returned to you.

If Your Previous Home Doesn’t Sell

If the previous home has not sold within 90 days, HomeLight will purchase the property based on their backup purchase offer. They will continue to work with your agent to manage the listing until the home sells, and as part of their “Upside Protection” agreement they will return any excess proceeds to you (minus costs HomeLight took on during ownership & the agent’s commission).

*There is a 2.4% program fee associated with the Buy Before You Sell program, which is calculated based on the final sale price of the current home. The fee will be collected on the final closing date of the home you are departing.

What Will We Provide to HomeLight?

Signed Borrower’s Authorization
- Your loan officer will send to you to sign
Credit Report
- HomeLight does not re-pull credit, they will accept the report that RWM Home Loans obtains
Most Recent Mortgage Statement
Current Homeowners Insurance
Lender Pre-Approval

What Will You Provide to HomeLight?

Property Questionnaire
- To be completed by your agent
10+ Photos of the Property
Home Inspection
- A link will be sent to schedule this
- A fee is required to be paid by you unless you decide not to proceed with HomeLight’s offer

Buy Before You Sell Eligibility

Minimum FICO Credit Score: 620
Property Values Up To $2.5 Million
Max Lien Amount on Departing Residence: $2 Million
Minimum Equity: 30%
Conventional & Jumbo Loans Eligible (FHA/VA Ineligible for Incoming Properties)

Single-Family Homes, Condos, and Manufactured Homes (1-Unit Only)
Owner-Occupied for Both Departing & Incoming Properties
Departing Residence Cannot Be New Construction With Ongoing Construction
Incoming Residence Can Be New Construction if a Certificate of Occupancy Is Received

Mortgage Lending Simplified

Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.

SECURE DOCUMENT SCANNER

FAST & EASY PROCESS

REAL TIME LOAN UPDATES

Everyone on the team was really professional, helpful and dedicated to make the whole process as smooth as possible. Whenever we had a question or concern, we always received a prompt reply.

Andriry K.

Extremely responsive, website was brilliant, clear list of what we needed and stayed on us until it was complete, knew who to send us to for tax transfer from our previous house. We will definitely refer our friends and family…read more →

Kirk C.

The communication on the process and the ability to sign documents electronically was a life saver. The availability and speed of answers were great.

Angelia B.

You helped me understand all my options, which made me feel more confident in the decision I had to make. You were on top of everything that had to be done and kept things moving in an efficient way... It…read more →

Julie M.

The team was easy to work with and willing to answer all of my questions. They even worked with a notary in North Carolina so I didn't miss my vacation.

Melody T.

Everything was fully explained from the beginning, and I felt like we worked as a team when we went step by step in our journey of getting financed for our first home.

Ana E.

Buying a house can be overwhelming but when you have someone you trust it makes it so much easier. We felt assured that we were in good hands and that we would get to the finish line during the escrow…read more →

Cassandra C.

Constant communication of needs and issues. Drafting of key documents in timely way. Friendly interactions and commitment to service.

Noah B.

Good communication, great staff and high level of professionalism.

James G.

The team was tremendously attentive to our every need and only had our goals and best interests in mind. Would work with them again anytime.

Brian S.