New American Funding changed the name of its all-cash program Buyer Accepted to NAF Cash, the company announced in a press release.
NAF Cash is an affiliated company of NAF, which itself recently rebranded.
“Moving forward, homebuyers can be even more confident in knowing that NAF Cash is associated with one of the nation’s top mortgage lenders,” the release reads.
The program is otherwise exactly the same, allowing buyers to make cash offers without selling their current homes first.
Cash buyers typically pay less for a home and outperform others in bidding wars. NAF also says sellers in today’s market may be more willing to make concessions for cash buyers.
“We’ve seen the tremendous impact that becoming a cash buyer has had on all our customers,” said Caroline Isern, Vice President of NAF Cash.
“Being able to be a cash buyer removes so much stress from the homebuying process, especially for those who are trying to sell their current house at the same time.”
New American Funding is an independent mortgage lender with more than 165 locations nationwide. The California-based lender recently promoted a new president and CPO, just before announcing an exclusive partnership with news platform Patch.
The lender also rolled out a grant for first-time buyers. New American, which laid off nearly 1,000 employees in 2022 due to the market correction, may be hoping to weather the slowdown with some of these newcomers.
Path to Homeownership is the latest initiative from New American aimed at expanding homeownership in underserved communities. The company also touts “Latino Focus,” an initiative for the Hispanic community, and the “New American Dream” initiative for the Black community.