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Updated almost 3 years ago on . Most recent reply
Has Anyone Heard of and/or Used Accept.inc
Hello BP community!
I have recently learned about an interesting lender called Accept.inc that I haven't heard of before, and I wanted to see if anyone else in the BP community has used Accept.inc and can share their experience and/or thoughts. From what I can tell, Accept.inc is similar to a traditional/conventional lender, but Accept.inc differentiates themselves by providing the cash up-front so home buyer's can be more competitive by way of putting in all-cash offers. Instead of underwriting after going under contract, Accept.inc will underwrite as part of the cash pre-approval process, and there are no points or fees, and rates and terms are the same as a conventional lender.
Having a lender that can submit cash-offers, close fast, with similar rates and terms to a conventional lender and no points/fees seems like it might be too good to be true. Could this type of lender work well for BRRRR or off-market deals since the closing period is fast and rates are more attractive compared to a hard money lender?
My main concern here is that it really appears too good to be true. Has anyone else used this particular lender or a lender that does something similar? I always ask my set of questions for vetting a lender, but since this lender is a bit different I wanted to ask the community what are some considerations to look out for and some good questions to ask?
I have recently learned about an interesting lender called Accept.inc that I haven't heard of before, and I wanted to see if anyone else in the BP community has used Accept.inc and can share their experience and/or thoughts. From what I can tell, Accept.inc is similar to a traditional/conventional lender, but Accept.inc differentiates themselves by providing the cash up-front so home buyer's can be more competitive by way of putting in all-cash offers. Instead of underwriting after going under contract, Accept.inc will underwrite as part of the cash pre-approval process, and there are no points or fees, and rates and terms are the same as a conventional lender.
Having a lender that can submit cash-offers, close fast, with similar rates and terms to a conventional lender and no points/fees seems like it might be too good to be true. Could this type of lender work well for BRRRR or off-market deals since the closing period is fast and rates are more attractive compared to a hard money lender?
My main concern here is that it really appears too good to be true. Has anyone else used this particular lender or a lender that does something similar? I always ask my set of questions for vetting a lender, but since this lender is a bit different I wanted to ask the community what are some considerations to look out for and some good questions to ask?
Most Popular Reply
Accept.Inc Is no doubt a great lender option in this market. Cash offers find their way to the winning side quite often.
A couple things to be aware of when using them:
1. Interest rate can potentially be higher than going the traditional route. In this market, if a higher Interest rate is doable for you and it means that you get the property you want, by all means go for it!
2. Seller agents that aren't coached on these kind of offers might be weary to go for it. An agent that understands Accept.Inc's methods would probably be okay with it. But, agents want to know everything that's happening with an offer. If they think something weird is going on in the background, they might not go with it.
All this being said, for a lot of people the pros far outweigh the cons. I've met many folks that enjoyed their services!
A couple things to be aware of when using them:
1. Interest rate can potentially be higher than going the traditional route. In this market, if a higher Interest rate is doable for you and it means that you get the property you want, by all means go for it!
2. Seller agents that aren't coached on these kind of offers might be weary to go for it. An agent that understands Accept.Inc's methods would probably be okay with it. But, agents want to know everything that's happening with an offer. If they think something weird is going on in the background, they might not go with it.
All this being said, for a lot of people the pros far outweigh the cons. I've met many folks that enjoyed their services!