Terms & Conditions

At Watermark Home Loans, we respect your timeline. We are so confident in our streamlined, in-house underwriting process that we back it with our On-Time Close Guarantee. If we fail to close your eligible home purchase on or before the contract closing date, we will apply a $1500 lender credit toward your closing costs.

To qualify for the On-Time Close Guarantee (the “Guarantee”), borrowers and their transactions must meet the following eligibility requirements and conditions:

1. Eligible Loan Types

The Guarantee applies only to residential purchase transactions for primary residences. Refinances, second homes, investment properties, Jumbo loans, Non-QM loans, and brokered loans are strictly excluded from this offer. The loan must be a conventional, FHA, VA, or USDA conforming mortgage directly underwritten and funded by Watermark Home Loans.

2. Borrower Responsibilities & Timelines

To keep the process moving at our guaranteed speed, borrower cooperation is required. The Guarantee is void if:

• The borrower fails to provide all requested initial income, asset, and supporting documentation within 48 hours of the initial request.

• The borrower fails to sign the initial Loan Estimate (LE) and all initial disclosures within 48 hours of issuance.

• The borrower fails to satisfy any additional underwriting conditions within 48 hours of the request.

• The borrower alters their financial profile during the loan process (e.g., opening new credit, changing employment, or transferring large undocumented assets), requiring re-underwriting.

3. Contract & Closing Date Requirements

• The fully executed purchase contract must be provided to Watermark Home Loans at least 30 calendar days prior to the agreed-upon closing date.

• The closing date must be mutually agreed upon by Watermark Home Loans, the borrower, and the seller.

• Any mutually agreed-upon extensions to the original contract closing date will automatically establish a new target closing date for the Guarantee.

4. Exclusions and Third-Party Delays

Watermark Home Loans relies on the timely execution of third parties. The Guarantee does not apply, and Watermark Home Loans will not be held liable, if the delay is caused by events outside our direct control, including but not limited to:

• Delays caused by the seller or the seller’s representatives.

• Delays in receiving acceptable property title clearance, surveys, or HOA documentation.

• Appraisal delays, including the inability to secure an appraiser, the appraisal coming in below the purchase price, or the property requiring repairs prior to closing.

• Natural disasters, severe weather events, or acts of God that prevent the consummation of the loan.

• Failure of the closing attorney, escrow company, or settlement agent to perform their duties on schedule.

5. General Terms

If the closing is delayed solely due to the fault of Watermark Home Loans, the $1500 credit will be applied directly to the borrower’s Closing Disclosure (CD) at consummation. The credit cannot exceed the total amount of the borrower’s actual closing costs, and no cash will be paid out directly to the borrower. This Guarantee is not a commitment to lend. All loans are subject to credit approval, property appraisal, and standard underwriting guidelines. Watermark Home Loans reserves the right to amend, modify, or terminate this Guarantee program at any time without prior notice; however, any loans locked prior to termination will be honored under the terms active at the time of the lock.