WE DO IT WELL, AND WE DO IT ON TIME
It’s simple. Get your purchase contract, then start packing. We will put everything in order and get you in your new home within 21 days. Premier Lending, Inc. will close your loan on time, or will pay you $1,000* in lender credit. We are confident we will do it and we will do it on time.
TERMS AND CONDITIONS
Premier Lending, Inc. will provide a closing guarantee from the date a fully accepted contract is received to the date of closing. We will disclose the number of days once purchase contract is received. Premier Lending, Inc. will pay the buyer a value of $1,000* in lender credit if on time closing was not met.
• Purchase Loans
• Conventional Loans
• FHA Loans
• VA Loans
• Jumbo Loans
Please note that manual underwriting, USDA loans, and Non-delegated Jumbo products are not eligible
1. AUS Approval
2. Fully executed application and intent to proceed has been received
3. Citizenship eligibility verified
4. Credit Report
- Qualify with all debts on credit report
- LOX for credit inquiries
- No adverse credit eligibility issues
- If debts are omitted, all supporting documentation required
- PITIA documented for all REO
- If divorced/separated, need divorce decree and property settlement statement
5. Income documentation required for income type being used.
- W-2, paystubs, WOVE (as required by agency/investor)
- Variable income requires full WVOE (or year-end paystubs)
- Self-employed income requires personal and business tax returns as required by agency/investor. P&L and balance needed as required by agency/investor.
- Rental income requires tax returns for calculation. If purchase since last tax filing, full executed lease agreement needed.
- Bank statement for liquid funds needed and reserves
- Fully executed gift letter for gift funds being used
- FHA requires a copy of the donor’s bank statement
- TBD funds not allowed. Must document all funds for cash to close and reserves
- Any potential foreclosures, BK, short sales, additional property ownership, etc. must be addressed
CHANGES THAT VOID THE GUARANTEE
1. New debt(s)
2. Employment changes
3. Income structure changes
4. Asset balances falling below original documents amount. (or falling below required amount)
5. Property is not acceptable, eligible, or has required repairs
6. Appraised value comes below purchase price and borrower decides not to bring in additional funds
7. Appraisal does not come back in time to meet the closing guarantee
*This is not an offer for extension of credit or a commitment to lend. Information and program terms are subject to change without notice. The 21 Day Closing Guarantee Program has requirements and restriction, please consult your mortgage consultant for details. Payment for missed closings will be paid within 30 days after closing. Missed closings due to unavailability of appraisers in the area will not be eligible for this program. Premier Lending, Inc. is an Equal Housing Lender.