What you need to provide, and when.
You must inform Homeric (in writing please) of your intent to apply and use the Perks Program before a Loan Estimate (LE) is provided by Homeric. Naturally, we’d like the chance to verify that you qualify to receive the credit on your purchase or refinance. This offer can not be combined with any other Homeric offers (other than our already low rates and vast loan options). If your loan doesn’t close within the rate lock period, the credit may be voided.

How does the credit work?
Once you complete your application and inform Homeric of your eligibility and intent to take advantage of the Homeric Perks Program, we will provide you with a Loan Estimate showing the breakdown of rate, principal, interest, taxes, insurance, mortgage insurance, etc. and we will apply the lender credit to your LE. The lender credit can be used to offset third-party loan fees and closing costs. The lender credit can not be used in cash-out scenarios.  You must have a completed application in order to receive a loan estimate with the applicable lender credit.

What else?
We are currently not able to offer the program on cash-out refinances, FHA loans or Down Payment Assistance programs. The program is not valid if the original loan terms or conditions change prior to closing.

The amounts on our upfront LE may vary slightly from the closing disclosure, which you’ll get after the LE.

Homeric will issue a Lender Credit at closing up to $1500. Details of credit applied at closing;

• $0-$199,999 (up to $500 lender credit)
• $200,000-$548,250 (up to $1000 lender credit)
• $548,250 plus (up to $1500 lender credit)

The program is only valid to current ISDs, municipalities employees, first responders and frontline workers that have registered with Homeric to offer the program.

The program is available for purchase and refinances on a first home loan, so it can’t be a second lien. The program is only valid in states where we’re currently originating loans. The terms and conditions of this offer may change without notice, including termination of the program. If you want to use the program to refinance a loan we’ve originated, you’ll have to wait 6 months from the funding date.

The program can’t be used if you’ve locked a rate with us in the previous 60 days.

The program is only valid once per loan.

The program doesn’t guarantee loan approval, nor is it an offer or commitment to lend. A final loan decision cannot be made until a complete home loan application and supporting documentation is received and verified. Loan approval is also subject to standard underwriting guidelines, investor conditions, and receipt of a satisfactory appraisal, title report, and verification that one or more of the applicants qualify for the program.

What you need to provide, and when.
A Loan Estimate (LE) from the competing lender must be dated and received within 1 business day of the date on the non-Homeric LE. Other documentation to show the competitor’s terms won’t qualify for the offer. Make sure the lender information on the LE is completed, otherwise we can’t accept it. Naturally, we’d like the chance to verify that the competitor’s LE is valid and will do so if applicable. If your Homeric loan doesn’t close within the rate lock period, the price match may be voided.

 

How to get $100 on us.
Once you send us your first payment letter showing the breakdown of principal, interest, taxes, insurance, mortgage insurance, etc. and your final closing disclosure (needs to be signed and dated with your closing date), we’ll review them and confirm that you went with the lender on the comparison Loan Estimate you gave us during the review. We’ll also confirm that you didn’t get a different deal than what we saw when we did the LE review (i.e. the lender fees (including credits, points, etc.) and interest rate are ultimately lower than what we offered you, you got the same loan product, etc.), as sometimes this can change between the other lender giving you an initial LE and where you ultimately land at closing.

 

Comparing apples with apples.
The terms of the competing loan must be identical to the one you want with us. This means the loan must have the same applicants, loan amount, property value, property address, loan type, rate lock period, amortization, documentation type, occupancy, and property type. For example, a 30-year fixed-rate product with mortgage insurance is not identical to a 30-year fixed-rate product that does not have mortgage insurance.

 

What else?
Due to COVID-19, we are not able to offer the program on (i) loan amounts greater than $548,250 or (ii) cash-out refinances. Once the market stabilizes for these scenarios, we plan to add them back into the program. The program is not valid if the original loan terms or conditions change prior to closing.

The amounts on our upfront LE may vary slightly from the closing disclosure, which you’ll get after the LE.

The program is available for purchase and refinances on a first home loan, so it can’t be a second lien. The program is only valid in states where we’re currently originating loans. The terms and conditions of this offer may change without notice, including termination of the program. If you want to use the program to refinance a loan we’ve originated, you’ll have to wait 6 months from the funding date.

The program can’t be used if you’ve locked a rate with us in the previous 60 days.

The program is only valid once per loan.

The program doesn’t guarantee loan approval, nor is it an offer or commitment to lend. A final loan decision cannot be made until a complete home loan application and supporting documentation is received and verified. Loan approval is also subject to standard underwriting guidelines, investor conditions and receipt of a satisfactory appraisal and title report.