Introducing LSB's Conventional and FHA Fixed Rate Residential Mortgage Closing Date Guarantee (We’ll pay your first mortgage payment if we don’t deliver!)
The Right People
You will work with a trained mortgage professional at Lincoln Savings Bank. We strive to make the mortgage experience smooth and efficient. You deserve an expert to help you select the loan program that best fits your particular needs.
The Right Process
All loan approvals are done locally. Our staff of experienced professionals process and underwrite our loans. This “hands-on” approach provides you with a smooth, clear, and efficient experience.
LSB Mortgage Department’s Conventional and FHA Fixed Rate Mortgage Closing Date Guarantee Program is subject to the following requirements:
- Application must be processed through LSB Mortgage;
- Subject property must be located in Iowa;
- You will be required to provide LSB with a copy of the fully executed purchase agreement, between buyer and seller for the purchase of residential real estate consisting of a one-to-four family unit dwelling and provide all required documentation within 48 hours of submitting a complete loan application;
- The closing date stated in the purchase contract must be a minimum of 30 days after the date LSB receives a complete loan application and
- This guarantee is not a mortgage loan approval or a commitment to lend. It is subject to you satisfying all underwriting guidelines, loan conditions and providing an acceptable property, appraisal, and title report.
This guarantee is not valid if:
- You change loan products or terms to anything other than what you originally applied for.
- Applicable law or investor requirements impose a required waiting period prior to closing, including but not limited to a waiting period due to re-disclosure to you of updated loan, Truth in Lending Disclosure information, or delivery of an appraisal or appraisal addenda. That waiting period prohibits us from closing on your set closing date due to any changes made by you.
- You choose to change the closing date from the date stated in your fully executed purchase agreement.
- Missing the closing date is due to your actions, omissions or delays.
- Your application or loan documentation contains fraudulent information or material misrepresentations.
In the rare event we inadvertently miss a closing date and do not proactively refund your payment under this guarantee; you must request it from us within 90 days of the final closing date. Any payment we make pursuant to this LSB Conventional Mortgage Closing Date Guarantee Program may be reported to the IRS on a Form 1099-MISC. Please consult your tax advisor regarding your tax implications.
Limited to purchase transactions of primary residences only. Conventional and FHA Fixed Rate loan products qualify.
Some borrowers may not qualify for this program.
Offer is good April 1, 2013 - November 30, 2013 and may be cancelled or modified by Lincoln Savings Bank at any time without notice.