In the fast-paced and competitive world of real estate, having an edge can make all the difference. Prosperity Home Mortgage is thrilled to introduce CompetitivEdge℠, designed to give home buyers, sellers, and real estate agents a significant advantage in the market. This innovative program is crafted to ensure smooth, secure, and timely transactions, providing unparalleled confidence to all parties involved.
What is CompetitivEdge℠?
CompetitivEdge℠ is built around two core components: the HomeSURE℠ Advantage and the $30,000 On-Time Closing Guarantee. Together, these features create a powerful combination that elevates the home-buying and selling experience.
HomeSURE Advantage:
Secure Financing Up Front: The HomeSURE℠ approval goes beyond pre-approval, offering a fully underwritten loan commitment. This means buyers are ready to purchase with minimal last-minute surprises.
Underwritten Loan Commitment: Having an underwriter's commitment gives buyers a competitive edge in the market, akin to being a cash buyer.
Ready to Buy TODAY: With the HomeSURE℠ program, buyers can move forward with confidence, knowing their financing is secure.
Expedited Loan Closings: HomeSURE℠ clients can expect faster processing and closing times, reducing stress and uncertainty.
$30,000 On-Time Closing Guarantee:
Seller Closing Guarantee: If the loan does not close as scheduled, Prosperity Home Mortgage will pay the seller $15,000.
Real Estate Brokerage Closing Guarantee: Similarly, if the loan does not close on time, the real estate brokerage will also receive $15,000, ensuring all parties have peace of mind.
Additional Features for the Buyer
REFIne Your Rate:
If rates drop, refinance with Prosperity for up to 3 years after closing with no loan origination fee, saving you up to $1,695.
Lock, Shop, & Home
Clients can lock in their rate for up to 90 days while searching for their home or float the rate and lock in later, offering flexibility and peace of mind.
Why CompetitivEdge℠ Matters
In today's market, where competition for desirable properties is fierce, the ability to present a solid, reliable offer can be the deciding factor in securing a home. CompetitivEdge℠ provides this reliability, making it a valuable tool for buyers, sellers, and real estate agents.
For Home Buyers: Offers backed by CompetitivEdge℠ stand out, often placing buyers in a more favorable position compared to those with standard pre-approvals.
For Home Sellers: Knowing that a buyer is fully committed and financially secure can make sellers more inclined to accept an offer, reducing the risk of the sale falling through.
For Real Estate Agents: The program ensures smoother transactions, enhancing the overall client experience and building stronger client-agent relationships.
Why Choose Prosperity Home Mortgage?
At Prosperity Home Mortgage, we believe in empowering you with the tools needed for a successful home buying journey. CompetitivEdge℠ combines our HomeSURE℠ Advantage—an underwritten, firm home buyer commitment—with a lender-backed On-Time Closing Guarantee. Our Mortgage Consultants, leveraging both national reach and local expertise, guide you every step of the way, providing timely updates and valuable insights. Additionally, they’ll assist you in refining your rate in the future, ensuring long-term satisfaction and financial benefit.
Wrapping Up
CompetitivEdge℠ by Prosperity Home Mortgage is more than just a loan product; it's a commitment to excellence and reliability in the home-buying process. By ensuring secure financing, expedited closings, and on-time guarantees, we provide all parties
involved with the confidence and assurance needed to navigate today's competitive real estate market successfully.
Stay tuned for our next blog post, where we will dive deeper into the On-Time Closing Guarantee and how it specifically benefits home buyers, sellers, and real estate agents.
1. HomeSURE Advantage is not a final loan approval or a guarantee to lend. A Commitment Letter is based on verified information and documentation provided by the borrower and a review of the borrower's credit report. The interest rate and type of mortgage used to approve borrower for a specified loan amount is subject to change, which may also change the terms of approval. If the interest rate used for credit approval has changed, borrower may need to re-qualify. Information provided by borrower is subject to review and all other loan conditions must be met. After a borrower has chosen a home and the purchase offer has been accepted, final loan approval will be contingent upon obtaining an acceptable appraisal and title commitment. Additional documentation and loan qualifications may be required. Not all borrowers will qualify. May not be available in all areas.
2. Some restrictions may apply. The Closing Guarantee is only available on HomeSURE Advantage-designated, conventional, FHA and VA loans with a valid Commitment Letter issued by Prosperity Home Mortgage, LLC (“Prosperity”), in writing prior to execution of fully ratified sales contract. Some jumbo loan programs may be eligible at the sole discretion of Prosperity. Brokered jumbo loans are NOT eligible, and any jumbo loan programs requiring investor preapproval are NOT eligible. The Closing Guarantee is NOT available on renovation loan products, loans for the purchase of cooperative housing units, or loans involving any sort or type of bond, grant, down payment assistance, mortgage credit certificate, or any other non-profit, municipal, or housing authority program. For conventional loans, FHA loans, and VA loans, an acceptable appraisal must be received and approved by Prosperity at least ten (10) business days prior to closing or loan is not eligible for Closing Guarantee. The Commitment Agreement has an expiration date, which, solely for purposes of eligibility for the Closing Guarantee, may not be extended. The loan must close on or before the expiration date contained in the initial Commitment Agreement issued by Prosperity. Subject to acceptable appraisal of property value at or above contract sales price. The Closing Guarantee is subject to the satisfaction by the Borrower(s) of all loan conditions identified in the Commitment Agreement at least three (3) business days prior to closing or as otherwise determined by Prosperity in its sole discretion. The Closing Guarantee is not valid if either Borrower(s) or Seller terminate the purchase contract, extend the settlement date, or otherwise choose not to consummate the transaction for any reason whatsoever. The Closing Guarantee is invalid if there is a substantial change in the Borrower’s financial condition or to the terms of either the loan, loan product, loan type, or the purchase contract between Borrower(s) and Seller. The Closing Guarantee is void in the event closing is delayed or cancelled as a direct result of an unforeseen disruption of service; an act of God; a national, state, or local emergency; pandemic; natural disaster; or other public health declaration. This offer is void where prohibited and is non-transferable, subject to the terms herein, and valid on all complete applications received on or before 12/31/2024. The Closing Guarantee is limited solely to the transaction and subject property identified herein.
3. This promotion is valid on purchase loan applications between 6/30/2024 and 12/31/2024. If interest rates go down, Prosperity Home Mortgage, LLC will cover the cost of your loan origination fee (up to $1,665.00) when you refinance your home with Prosperity Home Mortgage, LLC and close within 36 months of your original closing date. Borrowers may be eligible to refinance beginning at least 180 days after purchase loan close date, provided a net tangible benefit to the borrower can be established which may include a reduction in your interest rate or monthly payment. Loans will not be eligible until such point as a net tangible benefit as required by applicable law and determined by Prosperity Home Mortgage, LLC can be established. Loan must close within 60 days from the date of refinance loan application. Lender credit may not exceed $1,695 or a borrower's out of pocket closing costs. Eligibility certificate must be presented at the time of application for refinance loan, and all eligibility requirements must be met no later than 2 days prior to the New Loan closing date. Only one lender credit permitted per New Loan. This lender credit is void where prohibited and is nontransferable, subject to the terms herein, and valid on complete applications. By refinancing an existing loan, your total finance charges may be higher over the life of the loan. Not all borrowers will qualify. If you have a current lock-in agreement, this is NOT an inducement to transfer your loan. This promotion may not be combined with any other offers, discounts or promotions. Standard credit and collateral underwriting guidelines apply. This is not a commitment to lend.
Prosperity Home Mortgage, LLC will be able to offer a loan commitment to qualified applicants upon verification of application information, satisfying all underwriting requirements and conditions, and providing an acceptable property, appraisal, and title report. See a mortgage consultant for details.
4. Lock, Shop & Home program is NOT available for bond, jumbo, or renovation loan programs. Interest rate lock available up to 90 days. Longer lock periods may be available. Additional fees may apply for longer lock periods.
5. Borrowers may choose to float down their interest rate one (1) time, anytime within 7 days of closing. An upfront, non-refundable fee equal to 0.25% of the borrower's loan amount will be due at the time of the initial rate lock.
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