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Advantix Lending’s Terms and Conditions
| 1. | The subject property must be located in the State of California. | | 2. | The offer applies only for Applicants with a qualifying FICO score between 500 and 599. | | 3. | The competing offer must come from a California Department of Real Estate licensed Mortgage Broker. | | 4. | The competing offer must be dated within ten days of the date of submission to Advantix Lending. | | 5. | Only one competing offer per applicant. | | 6. | The competing offer must be on a first mortgage loan product offered by Advantix Lending on the date of submission. | | 7. | If you close your loan with the Mortgage Broker, your loan application must close within 21 days of submitting the qualifying offer to Advantix Lending. The terms of the transaction must be identical to the terms submitted to Advantix Lending as the competing offer. | | 8. | Your application with Advantix Lending is subject to income and employment verification, a satisfactory title report, appraisal and Underwriting approval. The appraised value must be the same or higher than the estimated value provided on the loan application. |
Appraisal Refund Terms and Conditions
Advantix Lending will refund the actual amount that you paid for an appraisal upon:
1. Closing your mortgage loan with Advantix Lending.
2. Proof of the actual amount paid in the form of a cancelled check or paid reciept.
No Closing Cost Option Terms and Conditions
1. Minimum loan amount is $175,000.
2. Available on select products only.
3. Taxes, interest and insurance are the responsibility of the Borrower. This includes but not limited to; property taxes, hazard insurance, flood insurance, earthquake insurance, hurricane insurance, pre-paid interest and accrued interest. Florida Homeowners are responsible for the intangible tax and doc stamp tax.
4. Appraisal fees are paid up front by the Borrower directly to the Appraiser. Advantix Lending will refund the appraisal fees paid by the Borrower only upon funding of the loan with Advantix Lending.
Pre-qualification Criteria
This “pre-approved” offer of credit is based on information in your credit report indicating that you meet certain credit criteria.This offer is subject to additional criteria including but not limited to; acceptable collateral, sufficient income to qualify, employment history and your capacity to make payments.You may no longer qualify if after you respond to this offer, we determine that you do not meet the criteria used to select your name for this offer or any other applicable criteria.
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