Our 15 business days home closing guarantee helps you to compete with cash buyers. Are you a Realtor or homebuyer looking to purchase a home in this competitive market? Often times your offer could be passed over in favor of by cash buyers that can close quickly.
I’m proud to announce that Service First Mortgage has just launched our 15 Business Day Home Closing Guarantee or Fast Pass Guaranteed Closing*program. This program allows our homebuyers to compete with cash offers. Qualified homebuyers that complete a prequalification process with the Richard Woodward Mortgage Team of Service First Mortgage will be issued a certificate that we combine with our written conditional prequalification letter that states that the borrower has provided all the upfront required documentation necessary for full loan approval.
I will call the listing agent of the property and explain to them about the Fast Pass Guaranteed Closing Program and that if we do not close on or before 15 business days from an executed purchase contract receipt, we will pay the seller $200 per day up to $1000*. This enables our homebuyers to compete with cash offers.
*Program guarantees to close within 15-business days of SFMC’s receipt of a Fully Executed Contract. 15 Business Days are defined as Monday through Friday, excluding National Holidays.
- Available only for FHA and Conventional purchase transactions. (No VA, USDA, Jumbo, Specialty program, etc…)
- Must meet all Fast Pass Guarantee Checklist Criteria
- Guarantee Certificate does not constitute loan approval
- Borrower must provide all documents for credit and income approval (all income, assets, etc. received before offer is accepted)
- No changes in the purchase contract after submission of conditions for clear to close
- Seller cooperates with scheduling the appraisal inspection without any delays and appraisal is at the value and not subject to repairs
- No condominiums, rural or unique property types, including manufactured homes
- Borrower must submit all requested documentation within 24 hours of requested time (including HOI).
- Offer null and void if either the seller or borrower extend the closing date, the closing does not occur on the contract closing date due to events outside the control of SFMC, LP including inclement weather, natural disaster, or other catastrophic events.
- Penalty of $200 per day up to a max amount of $1000 will be awarded to the Seller if closing is missed. Promotion expires 8/31/2018
Richard Woodward, NMLS 217454
Your Local, Direct, 5 Star Rated Mortgage Lender, Specialty Lending Manager
Office: (214) 945-1066
Service First Mortgage NMLS 166487
6800 Weiskopf Ave #200, McKinney, TX 75070
Licensed by the Texas Department of Savings and Mortgage Lending (SML) Mortgage Banker Registration. Service First Mortgage is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer and property qualification. Rates and fees are subject to change without notice. The views expressed on this site are those of the individual author and do not necessarily reflect the positions, strategies or opinions of Service First Mortgage or its affiliates.