Important Program Disclosures

Important Program Disclosures

This page provides general information regarding loan terms, program features, and assumptions for various loan programs offered through online marketing.

Loan programs, terms, rates, and availability are subject to change without notice. All loans are subject to borrower qualification, property eligibility, and underwriting approval.

This page is intended to satisfy disclosure requirements when advertising specific loan programs or using trigger terms in online marketing.

Texas Consumer Disclosure

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING,
2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705.

COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
INFORMATION AND FORMS ARE AVAILABLE ON SML’S WEBSITE: SML.TEXAS.GOV.

The following information is provided to comply with applicable federal and state advertising and credit disclosure requirements. Loan terms, rates, and programs are subject to change and may not be available in all states.

Advertising Disclosures

These disclosures relate to recent internet advertisements by or through the company.

Payments shown do not include taxes, insurance, mortgage insurance, or other applicable costs. Actual payment obligations will be greater. Not all applicants will qualify.

Government Program Disclaimer

The company is not affiliated with the Department of Veterans Affairs, the U.S. Department of Housing and Urban Development, or the Federal Housing Administration. This is not a government offer and has not been approved or endorsed by any government agency.

Program eligibility and underwriting requirements vary by applicant and by lender. No income, no appraisal, or no minimum credit score options are not available to all borrowers. Additional documentation and credit standards may apply.

Purchase and Refinance Disclosures

Payments do not include mortgage insurance, taxes, or hazard insurance. Actual payment obligations will be greater.

For purchase loans, actual interest rate, APR, and payment may vary based on loan terms selected, verification of information, credit history, property type, and location.

For refinance transactions, payment reductions may reflect longer loan terms and higher total interest charges over the life of the loan. Savings, if any, will vary by borrower.

Mortgage Buydown Disclosure

One discount point equals one percent of the loan amount

A mortgage buydown is a financing arrangement in which discount points are paid upfront to reduce the interest rate temporarily or permanently.

Discount points are a one-time prepaid interest charge. Buydown structures vary depending on whether the rate reduction is temporary or for the life of the loan.

Buydowns may be most beneficial when paid by a seller or builder. Borrowers considering paying points themselves should consult a loan officer to determine suitability.

Reverse Mortgage and HECM Disclosure

This information is not a substitute for advice from an attorney, accountant, or financial planner.

A reverse mortgage is a loan, not a government benefit. These materials are not from HUD or FHA and were not approved by any government agency.

Reverse mortgages use home equity to repay existing debt, consolidating balances into a new loan. The loan balance increases over time and must be repaid when the home is sold, the borrower no longer occupies the property as a primary residence, or the loan otherwise becomes due.

Borrowers remain responsible for property taxes, insurance, maintenance, and related expenses. Failure to meet these obligations may cause the loan to become due and payable and may result in foreclosure.

Interest on a reverse mortgage is not tax deductible until the loan is partially or fully repaid. This is not tax advice. Consult a qualified tax professional for guidance.

General Credit Disclosure

This is not a commitment to lend or extend credit. All loans are subject to credit approval, underwriting, and program guidelines.