Fintech Lower.com launched its new cash offer program, MortgagePass, designed to help customers make cash offers while continuing to work with their preferred real estate professional. 

“All too often, customers are forced to unhook from their agents or pay an additional fee to retain their agents in order to offer cash on a home,” said co-founder and CEO Dan Snyder. “We want our customers to benefit from the expertise of their local agents while also gaining the competitive advantage of offering cash, as nearly a third of purchases are cash offers.”

Customers using MortgagePass will be pre-approved for a mortgage through Lower.com before shopping for a home. They can place an offer backed by cash, continue to finance as normal, and if it gets delayed, Lower.com will purchase the house in cash. Once financing is complete, Lower.com will sell the home to the buyer for the original purchase price.

Customers who use MortgagePass also have access to a simple application and tech platform, low fees, and the ability to choose their own loan term, in addition to their own agent. They’ll also get access to extended rate locks and if rates drop, they’ll be lowered for free.

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