* $1,000 will be due if First Direct Lending is unable to provide a loan with more monthly savings than the competitor’s loan. Monthly savings are defined as the difference between the total of all current monthly payment obligations with the new total monthly payment obligations. To qualify for $1,000, customer must present a copy of competitor’s Loan Estimate and 1003, dated no more than three (3) days prior to First Direct Lending application, for a comparable mortgage loan program with higher monthly savings. Upon closing the loan with competitor, customer must present a copy of competitor’s Closing Disclosure dated no more than thirty (30) days after First Direct Lending application. Funds will be sent to the customer after confirming that information on Loan Estimate, 1003, and Closing Disclosure are consistent and accurate, with monthly savings exceeding those reflected on the First Direct Lending Loan Estimate.
** Date of complete application is defined as the receipt of the application, documents, disclosures and authorizations required to begin processing the loan (indicated by the completion of File Set Up). Date of closing is defined as the day closing documents are signed by the customer. Initial application information must be accurate and remain consistent. Loans with any delays resulting from unaffiliated 3rd party companies, including but not limited to appraisers, employers, and settlement service providers, are not eligible. To qualify, customer must provide all requested information or documentation within 48 hours of request. $1,000 will be offered as a credit towards any lender fees charged by First Direct Lending. Loans which contain a price concession of at least $1,000 do not qualify for the 30-day closing guarantee.
^ First Direct Lending will finance the cost of any appraisal required on a Government (FHA/VA) loan program through loan proceeds. No upfront payment will be required. Customer must be approved for the loan and provide the necessary documentation to begin processing the loan before First Direct Lending will order the appraisal.
^^ First Direct Lending does not charge any lender fees on any future mortgage loans against the subject property. Customer must qualify for an available loan at the time of application for the Free Refinance Program.