Home Closing Guarantee

Long Companies’ Home Closing Guarantee:
On Time Closing & Closing Costs Guaranteed

Your Home Closing Guarantee Includes:

• On Time Closing Guarantee1 - If your loan from Long Mortgage doesn’t close on your new home by the initial close date stated in your purchase contract due solely to Long Mortgage or Long Title delay, we will at closing either (1) reimburse you one monthly principal and interest payment OR (2) credit you $1,000 toward closing costs, whichever is greater.
• Closing Cost Guarantee2 - Should your actual closing costs be OVER the amount quoted in the Good Faith Estimate, we will credit you the difference at closing.
• A full title search & commitment on lot and block property that you are purchasing within 48 hours after receipt of the order from escrow.
• Sufficient time to approve your title commitment during the inspection period.
• A LSR (Loan Status Report / Conditional Loan Approval) will be in your hands at no additional cost prior to your property search.
• No charge for your appraisal should your contract fall through during the inspection period.

To put Long Companies’ Home Closing Guarantee to work for you, please contact a Long Mortgage Consultant at (520) 918-1641.

• (1) To be eligible, you must apply for a purchase loan through Long Mortgage and must close your loan with Long Mortgage and Long Title. If your loan from Long Mortgage doesn’t close on your new home by the initial close date stated in your purchase contract (by the close of the business day) due solely to Long Mortgage’s or Long Title’s delay, we will at closing either (1) reimburse you one monthly principal and interest payment OR (2) credit you $1,000 toward closing costs, whichever is greater. You are solely responsible for all federal, state, and local taxes that become due and owing as a result of such payment.
• (2) This is not a commitment to lend and excludes the following loan products and programs: refinance, renovation, construction and construction to permanent financing, reverse mortgages, brokered applications, state and local bond loan programs, the Community Homeownership Affordable Mortgage Program, the Community Development Mortgage Program, Rural Development programs, cooperative apartments, and any loan, product or program that requires a third party approval. This guarantee includes purchase transactions secured by a first mortgage or deed of trust with Long Mortgage Company. Other programs may qualify. Call Long Mortgage Company for complete details. To be eligible, Long Mortgage Company must receive a copy of the original purchase contract listing the initial closing date and all required loan documentation within 48 hours of submitting all complete loan information. The purchase contract must allow at least 10 calendar days between the date we receive all required and complete loan information, including property address, and initial closing date. Applications greater than $1 million, FHA, VA, Expanded Financing Alternatives, Home Credit Solutions, Home Opportunities or other non-traditional mortgage product applications, must allow a minimum of 21 calendar days between these dates. FHA regulations require a minimum cash investment from a borrower. Therefore, if we don’t meet the guarantee described herein, for an FHA loan product, we’ll make at closing a donation equivalent to the first month’s mortgage payment to a faith-based or non-profit organization of your choice. You are solely responsible for all federal, state, and local taxes that become due and owing as a result of such payment. The recipient organization must qualify under 501(c)(3) of the Internal Revenue Code as a non-profit. This does not guarantee the amount of any fee charged by the real estate broker or the amount of prepaid expenses such as taxes, insurance, interim interest, hazard insurance or mortgage insurance, or any association fees or reserves collected, or any charges optional to the borrower. The guarantee does include lines 800 through 813 and lines 1100 through 1306 on the HUD 1 Settlement Statement. All first mortgage products are offered and provided by Homeservices Lending, LLC Series A dba Long Mortgage Company. Long Mortgage Company may not be available in your area. ©2007 Long Mortgage Company. All Rights Reserved. An Equal Housing Lender. #52585 1/08-04/08 This information is accurate as of the date of printing and is subject to change without notice.