American Financial Resources, Inc. (AFR) has launched an all-cash offer program designed to create equal opportunity for traditional and first-time homebuyers in today’s competitive market.
According to a press release, the company is initially offering the eCASH Home Financing program in Texas, Florida and New Jersey before expanding nationwide.
Buyers who use the eCASH program benefit from a contract addendum that ensures AFR’s program partner will buy the house if the buyer cannot close due to a covered reason. Additionally, it ensures that the seller will receive the approved purchase price regardless of the appraised value.
The program is available for Realtors and consumers via eLEND and brokers via AFR Wholesale.
“AFR’s mission has always been to enable qualified applicants to own their own home, and when low inventory and low interest rates were combined with more Americans wanting to move to the suburbs than ever before, our team knew that new programs like this one would need to be created to continue to make our mission a reality,” said Bill Packer, executive vice president and chief operations officer at AFR. “By introducing this eCASH program, we reinforce our vow to make closing on a dream home possible.”