We'll Close in 30 Days, or You Get $1,000
Buying a home can be stressful. Closing on your mortgage doesn't have to be.
Eligibility for our 30-Day Closing Guarantee depends on the following conditions. If you're not eligible for the guarantee, we'll still do everything in our power to meet your closing date.
- Closing date must be at least 30 days past the contract date (though Motto Mortgage Complete closes many loans faster than 30 days).
- Contractual closing date, as identified in Purchase & Sale Agreement, must not change.
- Borrower must make closing guarantee claim prior to close.
- Borrower must qualify for the original loan terms requested. If Motto Mortgage Complete must issue a counteroffer, the loan is not eligible.
- Borrower must not unsuccessfully dispute results of appraisal.
- If a “mail-away” closing is required, this must be communicated to Motto Mortgage Complete 15 days prior to close.
These deadlines must be met by the borrower and title company
- Within 24 hours of receiving initial disclosures:
- Borrower must electronically acknowledge receipt of disclosures.
- Within 6 days of contract:
- Borrower must lock interest rate.
- Borrower must pay for appraisal.
- Within 10 days of contract:
- If the borrower doesn't use Motto Mortgage Complete's preferred title company, the title vendor must submit the complete preliminary title package.
- Borrower must provide all requested documentation. Any additional required documentation/information must be provided by borrower within 24 hours of each request.
- Within 10 days of close:
- If applicable, all title-related defects must be resolved.
- There must be no alterations to the loan amount or loan terms by, or per request of, the borrower.
- The borrower(s) and source of income and assets previously validated by an underwriter must remain the same.
To make a Closing Guarantee claim, Motto Mortgage Complete clients can contact their Mortgage Advisor or reach our office at [email protected] or (281) 974-4137.
The following are not eligible for the Closing Guarantee:
- “Jumbo” loans that exceed Fannie Mae’s loan limits for conventional mortgages.
- Properties that require appraisal reinspection, including in the event of a natural disaster.