New PowerBid Guaranteed Price approval helps homebuyers compete against each other with all-cash offers

Ultra-fast, fully signed approval turns borrowers into power buyers

CHICAGO, July 21, 2022 /PRNewswire/ — Guaranteed price, a cutting-edge mortgage lender aspiring to become the nation’s best fintech, is proud to announce the launch of its new PowerBid approval. This exclusive new program is designed to give homebuyers the strength, speed and confidence they need to compete against well-funded buyers and institutional investors.

Historically low inventories combined with an influx of aggressive cash buyers continue to disrupt the housing market. Amid this disruption, more and more borrowers are looking to improve their chances of making a winning bid on the home of their dreams. The Guaranteed Price is committed to helping, and our new PowerBid approval is our latest tool in this ongoing battle.

Guaranteed Rate’s new PowerBid approval offers buyers and sellers the assurance of a quick, fully signed approval confirming that the borrower qualifies to buy immediately. PowerBid’s priority approval processing times mean borrowers receive our fastest approval, often in under 24 hours. Less thorough permits that are not fully signed often lose out in competitive bidding situations. It’s quick and easy to use from anywhere, on any device, and a 90-day lockdown gives borrowers the time they need to find the home they really want.

“At Guaranteed Rate, we are constantly looking for ways to improve the shopping experience for our customers,” said Paul Anastos, Guaranteed Rate’s chief innovation officer. “Our exclusive new PowerBid approval comes at a time when so many people are looking for ways to win in the current market. This incredibly fast and powerful new tool is a great way for buyers to differentiate themselves and get the home, that they really want.”

Not only are more and more private individuals making cash offers to buy their own homes, but also institutional investors. In fact, a recent report by the National Association of Realtors Research Group found that a staggering 13% of residential home sales over the past year were from corporate interests. All of this means that regular buyers need to be armed with as much homebuying firepower as possible to compete in this market.

If you want to compete in today’s tight real estate market, you need every advantage you can get. PowerBid approval, exclusive to Guaranteed Rate, gives you the raw homebuying horsepower you need to outperform the competition and meet Best and Final time constraints.

Learn more at rate.com/powerbid.

PowerBid approval (the “Approval”) is subject to receipt of a completed purchase agreement, an acceptable valuation, valid term insurance, and a reassessment of your financial status. Guaranteed Rate, Inc. reserves the right to withdraw this approval at any time if there are changes in your financial condition or credit status that would affect your ability to repay this obligation and/or if any information in your application is untrue, incomplete or incorrect inaccurate. Receipt of an application does not constitute a commitment to finance or a guarantee of interest. Not all applicants will be approved for funding. Restrictions may apply. Contact Guaranteed Rate for current rates and more information.

About companies with guaranteed prices

Guaranteed Rate Companies is a leading provider of mortgage lending and digital financial services. Headquartered in Chicago, the Guaranteed Rate Companies employs more than 10,000 people in more than 850 offices across the United States serving all 50 states and Washington, DC Company has established itself as an industry leader by introducing innovative technologies, offering low prices and delivering unparalleled customer service. Honors and awards include: Top Lender for Online Service for 2018 by US News & World Report; Best Mortgage Originator for Online Loans and Best Mortgage Originator for Refinance by NerdWallet for 2021; HousingWire’s 2020 Tech100 Award for the company’s industry-leading FlashClose℠ technology; Ranked #3 in the Scotsman Guide’s 2021 list of Top Retail Mortgage Lenders; Chicago Agent Magazine’s Lender of the Year for six consecutive years; and on the Chicago Tribune’s Top Workplaces list for seven consecutive years. Visit rate.com for more informations.

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