Financing Contingency Promise™
LoanVerify is confident in our Pre-Approval process. We review an applicant’s credit, income, and assets before issuing our Verified Approval® letter.
Applicants who wish to strengthen their offer to the seller of a home, can choose to remove the financing contingency from their sales contract. The LoanVerify Financing Contingency Promise™ means that, subject to certain conditions, LoanVerify will refund an applicant up to $10,000 of earnest money that is not refunded to the applicant because the applicant does not obtain the financing specified in LoanVerify’s pre-approval within 30 days after the date of the pre-approval due to LoanVerify’s actions in verifying the applicant’s credit, income, or assets. In no event will LoanVerify refund more than the actual deposit amount not refunded to an applicant up to the $10,000 limit.
**does not apply where an applicant’s credit changes after a Loan Estimate is provided
**does not apply where an applicant’s employment changes after a Loan Estimate is provided
**does not apply where an offer letter is used as income for an applicant’s loan application
**does not apply where self-employed income is used for an applicant’s loan application