SAN DIEGO – Guild Mortgage, one of the largest and most experienced independent mortgage lenders in the U.S., has announced Homebuyer Protection, an innovative program designed to give customers added protection and peace of mind during the mortgage process.
Homebuyer Protection combines three of Guild’s loan programs and services, effectively allowing homebuyers to protect their rate, earnest money and closing date. The program is available on purchase loan applications received by Guild after April 15, 2019.
With Lock & Shop, the customer can lock in their interest rate for 90 days while shopping for a home. Once they have found a home, they will have the option to float-down their rate, at no cost, if rates decrease. Credit Approval Protection gives buyers, agents and sellers added confidence in Guild’s pre-approval process. If the company issues a preliminary credit approval from underwriting, but is unable to close the homebuyer’s transaction, Guild will pay up to $1,000 for inspections, appraisals or relocation expenses incurred for the home purchase. The company will also reimburse up to $5,000 in earnest money deposits if Guild is unable to close the loan. Finally, under Homebuyer Express with 17 Day Closing Guarantee, Guild will pay qualifying customers $500 toward closing costs if delays solely by the company prevent the loan from closing on time, in 17 days or more.
“When shopping for a home, customers want to know that they’re working with partners they can trust throughout the process,” said Mary Ann McGarry, president and CEO. “Homebuyer Protection gives customers the flexibility to shop with confidence knowing their rate is protected. Once it’s time to purchase the home, buyers can trust Guild to close their loan on time. If we can’t, we’ll cover some of their costs. This extra protection will help more people find the home they want and the right loan to help them get there.”
The Homebuyer Protection program is available on FHA, VA and conventional. To qualify for the Homebuyer Express 17 Day Closing Guarantee, the customer must be credit approved prior to executing the purchase and sales agreement, and the purchase and sales contract must be provided within 72 hours of execution. All additional requested documentation must be provided within two business days and the interest rate must be locked at least 15 calendar days prior to closing.
“We know there are a lot of options when it comes to getting a mortgage,” said Gemma Currier, senior vice president of national retail sales operations. “Homebuyer Protection was created so our loan officers can continue to provide the exceptional service and personal relationships that have defined Guild for nearly 60 years, while offering a protection program that homebuyers can’t find anywhere else.”
To learn more about the Homebuyer Protection program or to find a local Guild Mortgage branch, visit https://branches.guildmortgage.com/. For terms, conditions and eligibility requirements, visit /cap-hbe-terms/.
A top-10 national lender by purchase loan volume, Guild specializes in developing unique pilot programs and niche products to help deliver the promise of home in every neighborhood and community it serves. Its loan professionals can serve the needs of any homebuyer, from helping first-time buyers achieve homeownership, often through government loan programs, to homebuyers looking to upgrade with a jumbo loan. Guild also specializes in helping active duty and retired military personnel to secure VA loans, with 100 percent financing and flexible qualifying standards. The company is consistently recognized for its impact in the communities it serves, commitment to customer service, strength in regulatory compliance and workplace culture.