Sick of losing out to cash offers? Remove your mortgage contingency.
A+ buyers who have 20% of the purchase price and 700+ credit score verified can write their contract free of a Mortgage Contingency. Premium Mortgage Corporation will provide the balance of funds at closing.
- Not contingent on a Mortgage Approval
- Buyer must make a 20% Earnest Money Deposit
- Loan Limit: $832,750
- Debt-to-Income ratio not to exceed 45%
- Primary Single Family Residence and Second Home (excluding Condo’s and PUD developments)
A 20% earnest money deposit is required for this program and the buyer agrees that in the event they default in this agreement and Premium Mortgage Corporation acquires the property then in such event the listing agent shall retain the balance of the deposit and Premium Mortgage Corporation shall be paid from the balance of the deposit for its losses in purchasing and reselling the property. In the event the house does not appraise the buyer agrees to make up the difference and/or pay PMI.
Only available in the states of New York and Florida. Borrower must meet eligibility requirements. Cannot be used in conjunction with any other promotions or coupons.
Subject to signed agreement between Premium Mortgage Corporation and consumer.
Contact a Premium Mortgage Corporation Loan Officer for more details!