Purchase EDGE

At Planet Home Lending, we’re framing the future of homebuying, making buying and selling easier than ever with Purchase EDGE and Purchase EDGE Guarantee!

Purchase EDGE
Purchase EDGE Guarantee

Purchase EDGE

Here’s how it works:

• Planet buys your existing home up to 7 days before you close on your newly built home
• Enjoy up to 30 more days in your existing home, avoiding the hassle of moving into and out of short-term rentals or paying for storage facilities.

No more worrying about when to list your house for sale, how to sell your house fast, or the cost to sell your home. No paying for short-term rentals. Just an easy move from your existing home to your new home. Only with Purchase EDGE. Only from Planet Home Lending.

Give Yourself the Purchase EDGE

Before Purchase EDGE:

• Home selling stresses including listing, showing, and closing on your existing home
• Aligning the closing date of your existing home with the move-in date of your newly built home
• Packing and paying to move into and out of short-term rental or storage facilities

With Purchase EDGE:

• Flexibility if the builder’s delays change your closing date
• A buyer for your existing home up to 7 business days before closing on your new home
• Up to 30 calendar days to move stress-free into your new home after closing on your existing home
• With Planet handling the financing for your new build, you get great continuity of service from one home to another and beyond. We’re proud to be true partners on the next part of your homeownership journey — and give you the edge in a competitive market.

Purchase EDGE FAQ

Am I eligible for Purchase EDGE?

To be eligible for Purchase EDGE, you must own your existing home and have at least 20% equity and be able to qualify for a mortgage for your new-build home. For more information, talk to your Planet mortgage professional — to be there for you, we’ll think bigger, work smarter, and try harder.

I’d love to buy a home from a particular builder, but they won’t take a contingency. What should I do?

Call Planet. Your builder doesn’t have to already be working with Planet for you to take advantage of Purchase EDGE and buy with no contingency.

What if my builder moves my closing date more than once?

No problem! We wait until you and your builder have final confirmation of the closing date and then purchase your existing home up to 7 business days before you close. Then you have 30 calendar days from the purchase date to stay in your home to make your move stress-free.

Do I need to get the mortgage for my new home from Planet to use Purchase EDGE?

Yes, Planet offers Purchase EDGE to borrowers financing their new-build purchase with Planet, but the use of Purchase EDGE is optional. We’re excited to help you finance your new home. Fortunately, we offer a wide array of home loan options and have experience working with buyers and builders across the country.

What costs are associated with Purchase EDGE from Planet?

Typically, the total costs associated with Purchase EDGE include a program fee, real estate agent fees, an annualized carrying cost (or actual carrying costs, whichever is less), and any applicable transfer taxes. Fees are based on a percentage of the existing home’s sale price. Talk with your Planet mortgage professional today to learn more.

Purchase EDGE Guarantee

Search for your dream home with confidence with Purchase EDGE Guarantee. Then make a contingency-free offer on your new home with a buyer in your back pocket for your existing home. Only from Planet Home Lending!

Here’s how it works:

• You have 120 days to sell your existing home.
• If your existing home has not sold after 120 days or you’d like to sell sooner, Planet will buy your existing home up to 14 days before you close on your new home.

There’s no need to wait to sell your existing home before you buy. No more homebuying or selling stress. No need to settle for a less-than-perfect new home. Give yourself peace of mind.

Purchase EDGE Guarantee FAQ

Am I eligible for Purchase EDGE Guarantee?

To be eligible for Purchase EDGE Guarantee, you must:

• Own your existing home,
• Have 20% equity in the home,
• Be in the market for a new construction or resale property, and
• Obtain a FNMA or FHLMC Conventional Loan on the new purchase property.

For full eligibility details, talk to your Planet mortgage professional — call us with questions anytime.

With Purchase EDGE Guarantee, do I need to get the mortgage for my new home from Planet?

No, obtaining your new purchase mortgage loan with Planet is not required, but Planet is here for your home mortgage needs.

What costs are associated with Purchase EDGE Guarantee from Planet?

Typically, the total costs for Purchase EDGE Guarantee vary depending on if you are able to sell your home, or we step in as the buyer. If you sell your home, the costs associated include program fees. If Planet purchases your home, there are no additional fees, and we’ll take care of the rest. Talk with your Planet mortgage professional today to learn more.

The Purchase EDGE and Purchase EDGE Guarantee programs provide options to guarantee the purchase of the consumer’s existing home by Planet Management Group (“PMG”), which is a subsidiary of Planet Home Lending, LLC (“Planet”). Purchase EDGE and Purchase EDGE Guarantee both require the consumer to enter into the Purchase EDGE or Purchase EDGE Guarantee Program Agreement, which provides full details as to the program costs and each party’s responsibilities. Additional terms and conditions may apply.

The Closing Date triggering purchase under the Purchase EDGE or Purchase EDGE Guarantee Program Agreement must be 30 business days or later from the date of the fully executed Purchase EDGE or Purchase EDGE Guarantee Program Agreement for the identified property. This program is not an offer or an inducement by Planet to enter into an agreement to make a loan, nor a guarantee or lock of a specific interest rate or number of discount points.

Planet’s Purchase EDGE and Purchase EDGE Guarantee are not available in AK, HI, MA, NH, NY, and VT.