Rules and Restrictions

• Transaction must be a residential mortgage loan purchase transaction.
• Contractual closing date must be at least thirty (30) days from date of application.
• The OnTrack Program timeframe begins upon receipt of the 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 inspection.
• 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.