21-Day Guarantee Terms
Terms and Conditions
Please review the terms and conditions below.
Pre-Approval and Closing Guarantee are based on a preliminary review of Borrower's credit information only and is not a commitment to lend. The Closing Guarantee is subject to verification of the information submitted on Borrower's application, in addition to Borrower’s property eligibility.
Rules and Restrictions
- Borrower must participate in the GreenLight Program offered by Total Mortgage.
- Transaction must be a residential mortgage loan purchase transaction.
- Borrower must authorize “AccountChek”.
- The “21 Day Purchase Guarantee” timeframe begins upon receipt of the pre-approved Borrower’s completed application and executed purchase and sales agreement.
- A completed application, for the purposes of this promotion, is one which is done by telephone, mail, internet, or by a face to face interview.
- A mortgage payment, for the purposes of this promotion, is defined as principal and interest up to $1,500.
- Any additional required documentation/information must be provided by Borrower within 24 hours of each request.
- Any alteration to the closing date documented in the original purchase agreement, or to the loan amount or loan terms by, or per request of, Borrower will invalidate the guarantee.
- Should Borrower choose their own title agent, title vendor must submit preliminary title work within 5 days of initial application.
- Appraisal must be scheduled within 24 hours of initial contact by appraiser and must be received by Total Mortgage within 48 hours of completion.
- Property must appraise at or above the sale price.
- All pre-closing conditions must be satisfied 5 days prior to the scheduled closing date.
- Closing dates extended due to a delay in completion of new construction, and improvements or repairs made to an existing property, will invalidate the guarantee.
- Loans for new construction properties require a final certificate of occupancy for consideration.
- Fraudulent or purposely misleading information provided by Borrower will invalidate the guarantee.
- Co-ops, Savings Bank Programs, State Bond Programs, and non-QM loans are not eligible for this program. This program is available for Total Mortgage in-house products only.