What the Offer May Cover.
The credit may be applied toward eligible lender or broker charges, including certain origination, underwriting, processing, credit-report, tax-service or flood-certification fees.
The credit cannot exceed the actual eligible costs charged in connection with the new mortgage.
What Is Not Covered.
The offer does not cover:
- Discount points or optional interest-rate buydowns
- Appraisal or inspection fees
- Title, settlement or attorney fees
- Recording fees or government taxes
- Property taxes or insurance premiums
- Prepaid interest
- Escrow deposits
- Mortgage-insurance premiums
- HOA or condominium charges
- Subordination, lien-release or payoff charges
- Principal reductions
- Cash needed to satisfy the existing mortgage
- Borrower-specific or property-specific expenses
Important Eligibility Requirements.
A refinance is a new mortgage application and is not automatic or guaranteed.
To use the offer, the borrower must:
- Have completed the original home purchase through Hero Mortgage Group
- Apply during the eligible period following the original closing
- Submit a new mortgage application
- Requalify under the guidelines in effect at that time
- Meet current income, employment, credit, debt, equity, appraisal, property and underwriting requirements
- Demonstrate that the refinance provides a reasonable financial benefit
- Remain current on the existing mortgage
- Use Hero Mortgage Group to originate the refinance
Interest rates, loan programs and market conditions are not guaranteed. The refinance must be economically and legally available at the time of application.
The credit has no cash value, cannot exceed actual eligible closing costs, cannot be transferred and may not be combined with another Hero Mortgage Group promotional offer unless approved in writing.
Additional closing costs, prepaid expenses and funds may still be required from the borrower.
Program terms and availability are subject to change. All loans are subject to application, documentation, underwriting and final approval. This is not a commitment to lend.