Your One-Stop Settlement Guarantee
We are pleased to introduce a new program by Advance Financial Services (AFS).
We call it: "3 Easy Steps to the One-Stop Settlement Guarantee."1
Although it's not so much a mortgage program as a whole new way AFS will be serving homebuyers
that use Advance Mortgage and Advance Title & Abstract for their mortgage financing
and title and settlement services, it is a way that will provide homebuyers with top-notch service
and tangible benefits. This service is guaranteed. We
are spelling out, in writing, 3 key steps in the process from mortgage application
to settlement, and promising to meet specific and measurable standards for each
of those steps. And, if we fail to meet certain of these standards, we will honor
the guarantee by paying the customer compensation.
1
Mortgage Pre-Approval Analysis from Advance Mortgage Company
Have a conditional loan approval decision in your hands before you shop for your home at no cost to you!
This can give you bargaining power with the seller when you make an offer. Even if you have already been
pre-approved by another lender, you should talk to one of our Advance Mortgage Consultants. You may be
able to also qualify for our One-Stop Settlement Guarantee program. Does your lender guarantee their
costs and performance? Advance Mortgage and Advance Title & Abstract do, in writing!
2
Guaranteed Closing Costs for Both Mortgage and Settlement*
When you make your mortgage application, your Advance Mortgage Consultant will provide you with a closing
cost estimate. We guarantee that your mortgage and settlement service costs will not exceed the amount quoted
on your Good Faith Estimate or we will pay you the difference.1,2,3
3
On-Time Closing Guarantee*
We know you are depending on us to close your loan on or before the date mutually agreed upon in your sales
contract. If we are unable to meet this important commitment to you, we will refund your first month's mortgage
payment (principal and interest).4
Choose Advance Mortgage
and Advance Title & Abstract
for your mortgage financing and settlement cost and be assured
of "The One-Stop Settlement Guarantee"1.
The Reason for Offering the One-Stop Settlement Guarantee
Through past experience and studies of many consumer surveys,
both local and national, we have identified two major worries of the
homebuyer: "How much will my mortgage and closing services cost?" and
"Will my mortgage financing and closing documents be in place in time for my settlement?".
We decided that the best way to be the premier provider of our services would be
to meet these concerns head-on, so we are:
1. guaranteeing clients in writing that their mortgage costs and settlement service cost as
disclosed on the Good Faith Estimate will not change, and
2. that all AFS services will be performed on time to hold closing on the agreed upon date.
This differentiates AFS from other companies in the hampton roads (tidewater) market. No other company gives a
written commitment of performance for these key settlement steps and
backs it by a guaranteed compensation!
Only
Advance Mortgage and
Advance Title & Abstract Offer You
Everything You Need.
Right Here.
Right Now.
©2008 Rose & Womble Realty Company
1. The One-Stop Settlement Guarantee is available on VA, Conventional and FHA purchase loans in Va.
for buyers that close with both Advance Mortgage Company and Advance Title & Abstract Inc. Not
available on Virginia Housing Development Authority purchase loans, refinances, brokered or special
loan program transactions, loans where borrowers change loan products from time of Good Faith Estimate,
contracts that are assigned, or properties involved in foreclosure or bankruptcy. The borrower must
complete a mortgage application within 48 hours after execution of the ratified Sales Contract. Any
closing cost guarantee fees to be paid will be issued after closing.
2. If you elect not to use Advance Title & Abstract, Inc. with the "Good Faith Estimate Guarantee", then you are eligible for
the On-Time Closing Guarantee.
3. To be eligible, you must close your loan with both Advance Mortgage Company and Advance Title &
Abstract Inc. If mortgage and settlement costs on qualified loans exceed the amount quoted on your
Good Faith Estimate we will pay you the difference. This does not guarantee the amount of any fee
charged by the real estate broker or the amount of prepaid expenses such as taxes, insurance, interim
interest, hazard insurance or mortgage insurance, or any association fees or reserves collected, or
any charges optional to the borrower. The guarantee does include lines 800 through 813 and line 1101
on the HUD I Settlement Statement. Request for payment under this guarantee is required within 90 days
of the final closing date. You are not required to purchase title insurance through Advance Title & Abstract
to be eligible for this guarantee.
4.Available on all qualified purchase transactions. Terms and conditions apply. FHA regulations require a
minimum cash investment from a borrower, Rural Development prohibits cash payments directly to a borrower
and reverse mortgage loans do not require a monthly payment by a borrower. Therefore, if we miss the initial
closing date as indicated in your original purchase contract for an FHA or Rural Development loan product,
we'll make a one-time donation equivalent to your first month's mortgage payment to a faith-based or non-profit
organization of your choice. If we miss the initial closing date for a reverse mortgage transaction, we'll make
a one-time, $500 donation to a faith-based or non-profit organization of your choice. In all cases, the recipient
organization must have status under 501(c)(3) of the Internal Revenue Code.
Information is accurate as of date of printing and is subject to change without notice. All first
mortgage products are provided by Advance Mortgage. Advance Mortgage may not be available in your
area. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 2008 Advance Mortgage.
All Rights Reserved. #57137 9/08-12/08.
