Purchase Closing Guarantee

Congratulations on your decision to purchase a new home. Thank you for choosing Main Street Home Loans, a direct lender to assist with your financing needs.  Together we will make your loan process a positive one.

As a direct lender, Main Street Home Loans is pleased to offer you our “Purchase Closing Guarantee”. This guarantee provides peace of mind knowing that with your assistance, Main Street will meet your desired closing date. If we don’t close on the desired date, pursuant to the terms and conditions below, Main Street will reimburse you up to $2,000. *

This guarantee requires the assistance of all parties in the transaction to make sure documentation is received in a timely manner.  The timeline listed below is required to be completed, and returned to Main Street Home Loans at time of application.

Main Street Home Loans, a direct lender makes this commitment to you; however, it is the responsibility of each party, including you, to ensure that documentation is received in a timely manner.

At any point in the transaction, if the closing date is changed by a third party, or any amendment is made to the purchase contract, this guarantee will become null and void.

*Borrower must execute the Purchase Closing Guarantee at the time of initial application, so the timeline can be established, and included in the file. Minimum 21 calendar days required for transaction to be eligible for the Purchase Closing Guarantee. Eligible loan programs include conventional loans, FHA and VA.  Loan Amounts greater than $417,000, USDA, and loans with Secondary Financing are not eligible. Maximum guaranty reimbursement is the lesser of your new loans principal and interest payment or $2000.   The Main Street Home Loans office must have actual receipt of the initial loan documents and any additional documentation required within 1 calendar day of initial application or request in order to be eligible for this program.  In addition, the Main Street Home Loans office must have actual receipt of all final documents required by the closing attorney at least 48 hours prior to the closing date. This guarantee only applies to loans that are funded by Main Street Home Loans.  Any withdrawn or denied files are void of this guaranty.  The Purchase Closing Guarantee is null and void if the failure to meet the desired closing date is caused by an extraordinary event or circumstance beyond the control of the parties such as war, an act of terrorism or “Acts of God” such as tornadoes or, ice storms or if there are errors or omissions in the documents provided by the borrower.