Homebuyer Guarantee

Our FBC Mortgage

Homebuyer Guarantee*

Shop for a home with confidence with FBC Mortgage’s Homebuyer Guarantee Program - the next best thing to a cash offer!

We've got your back while you make your dream home a reality.

In today’s fast moving market, we know you don’t have days to wait for an underwriter to review your file once you find your dream home. So we enhanced our processes to include artificial intelligence, meaning that fully underwritten conditional approvals are now available within hours! We are also backing up our approvals with money-back guarantees to give you even more security when you make an offer on your dream home.

We guarantee that we can close your loan within 20 days of receiving a contract (so long as we have already underwritten your application)

We back our underwriting team’s approvals with an earnest money guarantee of up to $5,000 if we do not close your loan on time.

We will NOT charge you an application fee like other lenders!

We will refund you up to $1,000 in appraisal and inspection costs if we miss your closing date due to our error.

FBC Mortgage Homebuyer Guarantee Program Terms & Conditions

This is not a mortgage loan approval nor a commitment to lend and is subject to the consumer satisfying all underwriting guidelines and loan approval conditions, including the identification of a property that is acceptable as collateral to FBC Mortgage, LLC, or any of its parents, subsidiaries, joint ventures, or affiliated entities (hereinafter referred to as “FBC”) and the satisfaction of all appraisal and title-related requirements.
The Home Loan Guarantee Program (the “Program”) covers preapproval of the provided credit documentation. The Home Loan Guarantee will only apply if there are no material changes in the consumer’s credit or submitted documentation between the date of preapproval and the date of closing. “Material changes” shall include changes in underwriting guidelines, changes of the loan amount or loan product, loss or change of employment or income, discovery by FBC of undisclosed liabilities or increases in debt, and fraud, misrepresentations, or material omissions in the loan application and supporting documentation.
This only applies to loans to be funded or funded using the Program by FBC using conventional, FHA and VA loan programs for one to four family dwelling units only and excludes second liens, investment properties, refinance loans, renovation loans, non-purchase money home equity lines of credit, interim construction loans or other temporary financing, loans brokered to or by FBC, loans involving short sales, or any other purchase contract that requires the approval from a third party (e.g., a lender, relocation company, etc.).
The designated property must be occupied as the consumer’s primary residence and the purchase of this property cannot be contingent on the sale of another property.
The consumer must provide the fully executed purchase and sales contract to FBC within 48 hours of full execution.
All additional documentation requested by FBC must be provided within 48 hours.
The consumer must lock their loan with FBC at least 15 days before the purchase and sale closing date.
Any client, seller, or third-party delays, by act or omission, will void the guarantee (e.g., unavailability for any reason, failure to provide requested documentation, failure to timely sign loan documentation, etc.).
All payments are subject to maximum allowable lender credit and minimum contribution requirements under applicable loan programs (e.g., FHA, VA, Fannie Mae, Freddie Mac, etc., program guidelines). FHA and Rural Development regulations require a minimum cash investment by the borrower, which may limit the amount of any lender credits or payments by FBC under these offers.
Unforeseen circumstances adversely affecting the ability to perform will void FBC’s obligations under the Program (e.g., natural disasters, pandemics, inclement weather, catastrophic event, or other major event beyond FBC’s control). This shall also include an applicable law or investor requirement imposition of a required waiting period prior to closing (e.g., for redisclosure of updated loan, TRID (TILA / RESPA Integrated Disclosure Rule), Real Estate Settlement Procedures Act disclosure information), or delayed appraisal or appraisal addenda delivery that prohibits timely closing.
FBC reserves the right to amend or terminate these offers at any time except FBC may not amend or terminate offers extended to applications submitted prior to the effective date of the applicable amendment or termination.
The offers may not be transferred or assigned to any party by the consumer, except that FBC may transfer or assign its obligations without prior consent by the consumer.
The reimbursement payment under the Program shall constitute the sole obligation of FBC under the Program. NOTWITHSTANDING ANYTHING TO THE CONTRARY, UNDER NO CIRCUMSTANCES WILL FBC HAVE ANY OBLIGATION OR LIABILITY TO CONSUMER FOR ANY INCIDENTAL, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES INCURRED BY CONSUMER, REGARDLESS OF HOW SUCH DAMAGES ARISE AND OF WHETHER OR NOT CONSUMER WAS ADVISED SUCH DAMAGES MIGHT ARISE. IN NO EVENT SHALL THE AGGREGATE LIABILITY OF FBC TO CONSUMER EXCEED THE TOTAL AMOUNT OF THE GUARANTEE PURSUANT TO THE PROGRAM.
In the event FBC does not provide the payments required under the Program, the consumer must submit a written request within 90 days from the closing date. Any payment made by FBC under the Program will be reported to the IRS on Form 1099-MISC. All consumers should consult their tax advisors regarding any tax implications.
These offers only apply to purchase loan applications received by FBC on or after April 1, 2022.
FBC employees and their immediate family members are not eligible to participate in the Program.