How the RawFunds “No Bank Needed” Program Works (Start to Finish)

The 10-Step Process

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1) Browse homes

• Browse homes on our website by city, price, bedrooms, and estimated monthly payment.
  At this stage, you do not provide your Social Security number and you do not pay any fees.

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2) Tell us you’re interested

• When you see a home you like, click Schedule a Showing or Get Pre-Approved.
  We collect basic contact info so we can follow up about that home and similar options.

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3) Program basics (what this is—and what it’s not)

• Before you pay for screening, we confirm:

• This is a No Bank Needed program, not a traditional bank mortgage.

• You will need a down payment and the ability to afford the monthly payment.

• You are buying the home through a written agreement with clear rules about payments, fees, and what happens if payments are late or stop.

• Price transparency: The purchase price may be higher than what RawFunds pays the seller. The difference covers program costs such as acquisition, holding costs, servicing/admin, and providing a No Bank Needed path to homeownership. Your full purchase price and terms are shown in writing before you sign.

• Home selection philosophy: We generally avoid homes that require major repairs because major repair needs can put homeowners at financial risk.

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4) Income + identity + background screening (paid by you to a third party)

• If you want to continue, we send you to a secure third-party service to verify identity and review income/background/credit factors.

• The screening fee is paid by you to the third-party provider for the cost of reports.

• This fee is non-refundable, even if you decide not to proceed or are not approved.

• Screening does not guarantee approval.

• We review results to determine whether the program and payment range appear to be a safe fit.

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5) Pre-approval decision

• If pre-approved, we tell you your maximum price or monthly payment range and which homes you qualify for.

• If not approved, we tell you directly. When possible, we may share general factors (example: income too low for the payment), but we can’t provide legal or credit-repair advice.

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6) Unlocking the address + scheduling your tour

• For security, we do not publicly display full street addresses.
  If you’re pre-approved for a specific home:

• We unlock the full street address.

• We send a link to schedule a private tour with a local partner.

• You are responsible for showing up on time and asking questions during the tour.

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7) Home condition + inspection process (RawFunds-led)

• RawFunds performs the home inspection/condition assessment as part of our purchase process. Because RawFunds is the buyer purchasing from the seller, we evaluate the home for our own purchase decision and may request repairs or credits from the seller when appropriate. We may also terminate our purchase if the home does not meet our standards.

• Even though RawFunds performs the inspection, you should still tour the home, review the condition, and ask questions before signing.

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8) Review terms in writing

• If you want to proceed after the tour, we provide in writing:

• Down payment

• Monthly payment

• Length of agreement

• Estimated closing costs/fees (if applicable)

• We also explain repair/maintenance responsibilities after move-in and what happens if payments are late or stop.

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9) Sign the agreement + move in

• If you accept the terms:

• You sign an agreement explaining responsibilities and default rules.

• You pay your agreed down payment and any required fees at signing/closing.

• You move in and begin making monthly payments to RawFunds or our servicer.

• Taxes + insurance: Your monthly payment typically includes amounts collected for property taxes and homeowners insurance, and RawFunds/servicer handles paying them on schedule.

• Other costs: Utilities are your responsibility, and repair/maintenance responsibilities are stated in your agreement. You may also be required to carry contents + liability coverage.

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10) Making an offer (deposit, down payment funds, wiring safety, timeline)

• If you want RawFunds to pursue a specific home:

• Reservation deposit (non-refundable): Confirms you’re committed and starts the process.

• Down payment funds: Provided before RawFunds submits an offer and begins negotiations so we can move quickly and avoid delays. Applied to your down payment at closing. If RawFunds terminates the transaction for any reason, down payment funds are refunded by wire (timing/conditions are in your agreement).

• Wire safety: We may use a small test wire first, confirm receipt, then complete the remaining wire. We will never ask you to rely on wiring changes by email/text without phone verification.

• Timeline: Most buyers get keys in about 35–45 business days after funds are confirmed (excluding weekends and federal holidays). Some homes take longer; if that happens, we will keep you updated with the new expected date.

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Funds Receipt & Purpose Acknowledgment

• After funds are received, RawFunds will send a written “Funds Receipt & Purpose” acknowledgment confirming what the funds are for, which home they’re tied to, the next milestone, and refund triggers/method.

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Hard timeline commitment

• If RawFunds does not submit an offer within 7 business days after down payment funds are confirmed received (excluding weekends and federal holidays), your down payment funds are refundable upon request.

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Important things to understand before you continue

• Screening fee is non-refundable and paid to a third-party.

• Screening does not guarantee approval.

• This is a No Bank Needed program, not a traditional mortgage.

• Price may include program costs and services.

• Monthly payment typically includes taxes and homeowners insurance (handled by RawFunds/servicer).

• Utilities are your responsibility; repair/maintenance responsibilities are in your agreement.

• Ask questions or seek independent advice before proceeding.