On-Time Closing Guarantee

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mature home buyer learns her offer has been selected by the seller

Hope for the Best, Prep for the Worst

You’re waiting to hear if your offer was selected. But depending on the market and home, sellers review 10 to 40 offers. While the process is generally focused on price, there are other factors sellers weigh. The highest bid can come with strings attached, potential snags, and more questions than answers. STRONG HOME MORTGAGE offers a substantial guarantee that eases seller concerns and presents your offer as rock solid to close in a timely fashion. We want you to land your dream home and have the process be enjoyable — BUT if we’re at fault for settlement delays, then we pay handsomely for the hassle.

 

  • up to $5,000 to you for your closing costs
  • up to $1,000 to the seller for their costs
paperwork is stamped by a notary

What Voids the Guarantee?

  • Ineligible Loans: (i) USDA and Jumbo (as defined by the Federal Housing Finance Agency); (ii) loans that do not conform to applicable agency requirements (Fannie Mae, Freddie Mac, FHA, VA); (iii) loans involving the purchase of a bank-owned property and “short sale” transactions; and (iv) loans where a borrower(s) qualifies using self-employed income.
  • Borrower(s) may not request any changes to loan terms within 10 business days from the contract closing date. If such a request is made and honored, the Closing Guarantee is void.
  • If either of the following occurs: (i) the contract closing date is missed due to delays attributable to a borrower(s), third-party, seller, acts of God, or other events outside of the Company’s control; or (ii) information provided by borrower(s) could not be verified or is inaccurate or insufficient.
young homeowner proudly holds keys to new home

Eligibility Requirements| $6,000 On-Time Closing Guarantee

  • 1. The application for a purchase loan must be received on or after April 1, 2021.
  • 2. Borrower(s) and subject property must meet all underwriting requirements and the loan must be funded by the Company.
  • 3. Contract closing date must be a minimum of 28 calendar days from the date of receipt of the executed Intent to Proceed or receipt of credit card deposit for an appraisal, whichever is later.
  • 4. Borrower(s) must sign up for and use the Company’s online portal to timely upload all requested documentation including: (i) fulfilling all initial document requests within five business days of the request; (ii) fulfilling all additional document requests within two business days of the request; and (iii) providing a copy of the ratified purchase contract with all addendums within two business days of receipt of the initial Loan Estimate.
  • 5. Interest rate must be locked, and all conditions must be satisfied (including payment of all advance fee deposits), at least seven business days prior to the contract closing date.
  • 6. Appraisal appointment must be scheduled within 48 hours of the first attempt by the appraiser to contact the borrower(s).
  • 7. Finalized appraisal and/or completion certificate must be received within five business days of the contract closing date.
  • 8. Subordinate financing through another creditor must have subordinate financing loan approval five business days before closing.
    Strong Home Mortgage, LLC reserves the right to amend, terminate, or withdraw this guarantee at any time without prior notice. Void where prohibited. All home lending products offered by Strong Home Mortgage, LLC are subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations may apply. Payment made under this guarantee may have tax implications. Please consult your tax advisor to assess your personal tax situation.