In today’s lending environment, most Realtors and Buyers have come to expect delays in the home loan process. It doesn’t have to be that way. Through our ‘Keys on Time’ program, qualifed borrowers will get a written guarantee and certificate to present with their home purchase offer. This pledge assures a seller that American Pacfic Mortgage will have your mortgage loan approved, and documents to escrow in plenty of time to meet your closing date.
This guarantee is rock-solid.
The program is quite simple. If you qualify as a borrower, and are using one of our most-common lending programs (most of our programs are included), then we will prioritize your loan in our system with ‘front-of-the-line’ status. If for any reason we don’t make it on time due to fault of our company (see full details), then we will credit you $895 at closing.
Depends on the transaction and client; but our AVERAGE closing time for loans in this program is under 21 days…and that’s CALENDAR days, including the appraisal! Yes, you read correctly, and that is average turn-times, which means that half the loans were done quicker. You won’t find this kind of speed anywhere else!
No, there isn’t. To qualify, you must have your current income & asset documentation on file at the start of the transaction, and there are certain timeline triggers for locking the rate, ordering the appraisal, and submitting to underwriting. Call me at 916-517-1800 for full details. If you are self-employed with multiple tax returns, own many investment properties, or have an unusually complex loan file, then you might not qualify for this program, however be assured that our average closing timeline for loans not in this program is just 26 calendar days!
* The “Keys on Time” program is a limited guarantee that APMC will provide a credit to the borrower of $895 after the close of escrow if, due to some fault on the part of APMC, its originators or other APMC staff, a purchase transaction does not close until a date after the originally stated close of escrow date. The “Keys on Time” limited guarantee does not apply if the purchase transaction fails to close on or before the anticipated close of escrow date due to events/circumstances beyond APMC’s control, including but not limited to, delays caused by: an unacceptable or unexpectedly low appraisal value on the subject property, acts or omissions by the escrow or title company, second lien holder approvals, short sale approval, or loan conditions imposed by the lender that, despite reasonable diligence by APMC, are not met by any party in a timely manner. The “Keys on Time” limited guarantee trigger begins when the initial loan package is received by APMC’s Fulfillment center. The complete loan package must be received in the APMC Fulfillment center a minimum of 20 days prior to the COE date. Exclusions: The limited guarantee does not apply to the HARP program, reverse mortgages, FHA 203k, non-delegated jumbo products or any loans that require prior approval from an investor. The limited guarantee applies to purchase transactions only. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.