Big News! First Rate Financial has just announced a new way to help our clients, realtor partners and sellers feel secure that the real estate transaction will close. The First Rate Financial closing guarantee is a game-changer for our clients and we are excited to tell you more! In a nutshell, when a seller accepts an offer from a First Rate Financial client, they can rest assured that our borrower is well qualified and the deal will close or be paid $5,000!
Here are the details straight from First Rate Financial
This closing guarantee aims to give you, the seller, certainty that your real estate transaction will close successfully. It’s easy to make promises, but promises are only as good as the person making them. First Rate Financial is a local, Alaskan-owned company that has served Alaska’s communities since 2005. Our reputation, commitment to quality, and our word mean everything to us. This Closing Guarantee is how we put our money where our mouth is. At First Rate Financial, we don’t issue “90% letters” because we are not “90 % sure” we’ll close your transaction.
First Rate Financial GUARANTEES we’ll close the transaction, or we will pay the seller $5,000
If your loan does not close due to the fault of First Rate Financial, payment will be made to the seller within 15 days of contract termination. To qualify for this guarantee, the following conditions must be met:
● An acceptable appraisal at or above the purchase price with no contingencies
● An acceptable pre-liminary title report
“The letter of guarantee is a game changer and its the solution we needed that we didn’t know we needed. It’s what we need in this market and I write cover letters and I never thought to change something on the 90% letter! To change it to a 100% letter and then to back it up! Its out of the box and it shows how confident and committed First Rate Financial is to their clients.”
Keenan Fitzpatrick, Realtor
The First Rate Financial closing guarantee is not valid if the borrower or seller chooses not to close this loan or if the contract’s termination is caused in whole or in part by reasons beyond First Rate Financial’s control. Should unforeseen delays be caused by parties other than First Rate Financial, the buyer and seller will agree to work together in good faith to extend the contract appropriately due to market conditions beyond our control.
This is just another reason why the Alaska Mortgage Momma team adores working at First Rate Financial. Not only do we aim to take care of our clients, but we also want to make sure that home sellers have confidence in our work! First Rate Financial stands behind its Mortgage Brokers and knows we go above and beyond to prepare our home buyers for the reality of the market we are in. Learn more from First Rate Financial Co-Owner, Adam Heafner!
If you want to start the home buying process in the Mat-su Valley, get in touch! We are here to help!
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