Ineligible for the Closing Guarantee:
⦁ Self Employed borrowers
⦁ Delays in Appraisals / Value Issues
⦁ Delayed Payoffs
⦁ Subordination Agreements
⦁ Non-Arm Length Transactions
⦁ Title issues
⦁ Condominiums do not qualify
⦁ Must have 30 calendar days on contract when LO accepts contract.
⦁ Filed for extension with the IRS
⦁ Delays in obtaining Mortgage Insurance
⦁ HOA Delays
⦁ Short Sales / Foreclosures
⦁ Gift Funds
⦁ Second Homes/ Investment Properties
⦁ Non Conforming/Jumbo/Non Agency Loans NOT Eligible
⦁ Refinance or Cash-out refinance
⦁ USDA Loans/VA Loans
⦁ FHA 203k
⦁ One time close Loans

The Guarantee is deemed null and void if any of the following events occur during the transaction:
⦁ Applicable laws or investor requirements impose a mandatory waiting period prior to closing which prohibits Alterra from closing by your contractual closing date;
⦁ The disclosures are not signed and returned to Alterra with all required borrower items to initiate the mortgage process within 3 business days;
⦁ If the closing date is missed due to delays attributable to an unaffiliated vendor, seller, buyer or either parties’ attorneys or representatives;
⦁ Closing is not able to occur due to inclement weather, a natural disaster, catastrophic event, or any other public emergency during the loan transaction;
⦁ The borrower changes loan products or terms during the transaction;
⦁ The borrower’s application or loan documentation contains fraudulent information, omissions, or material misrepresentations.
⦁ The Guarantee is not assignable or transferrable. Alterra reserves the right to withdraw, terminate, or amend this Guarantee, at any time without notice, except for eligible purchase transactions submitted prior to our withdrawal, termination, or amendment.

Borrower_________________________________________Date______________________
Buyer’s Agent ___________________________________Date_______________________
Listing Agent_____________________________________Date______________________
Loan Officer_______________________________________Date_____________________