Alderus Mortgage, a division of Lower, LLC | NMLS #1124061 | 8621 Robert Fulton Drive, Suite 150, Columbia, Maryland 21046 | nmlsconsumeraccess.org | Equal Housing Lender
Alderus “Loan Easy” Certified Borrower
Loan Easy (LE) Certified borrowers provide the peace of mind in today’s fast paced Real Estate environment.
Loan Easy Certified borrowers are:
- Purchase ready
- Fully documented
- Credit approved
- Backed by our earnest money guarantee to both the buyer and seller
ALDERUS LOAN EASY CERTIFIED BUYER TERMS AND CONDITIONS
The Loan Easy Certified Buyer Certificate is subject to the following terms and conditions:
Alderus Mortgage will provide an Loan Easy Certificate (Certificate) to the Seller, Buyer and their respective Realtors that indicates the specified Borrower is credit qualified for a mortgage loan within stated parameters.
Alderus guarantees that in the event the Borrower receives an Loan Easy Certificate the Seller will be reimbursed in an amount equal to the Earnest Money Deposit not to exceed the amount of $2,500.00 if the Borrower is unable to obtain the loan and close escrow because of any mistake by Alderus and Buyer has fully complied with all terms and conditions for the loan.
There are requirements that exist beyond the Borrower’s income and asset qualifications that must be underwritten by Alderus Mortgage prior to full unconditional loan approval. Items outside the borrower’s credit qualifications are not covered under this guarantee. Examples of these loan conditions include but are not limited to the following:
- Acceptable executed purchase contract with a closing date approved by Alderus
- Acceptable appraisal
- Acceptable title
- Condominium certification or review (if applicable)
- Interest rate lock no higher than the approved rate
- Other non-borrower information
- All Borrower loan documentation requested by Alderus.
Alderus Mortgage will rely on the borrower to provide complete and accurate financial information. Alderus Mortgage will complete its due diligence verifying the borrower information to be true and correct as of the date stipulated on the Loan Easy Certificate.
If any information considered by Alderus Mortgage when issuing the Loan Easy Certificate changes subsequent to the Certificate date or is later found to be misrepresented and such change or misrepresentation negatively affects the qualifications of the Borrower, the Certificate including the Earnest Money Deposit guarantee shall be deemed null and void. Alderus will review all required Borrower documentation in a timely manner.Notice of the cancellation of the Certificate will be provided to the Seller, Buyer and their respective Realtors.