Credit may not be extended if you do not meet our required credit criteria or do not furnish the required collateral and supporting documentation.

 Eligibility: To be eligible for the Arc Home’s Close on Time Guarantee, all borrowers on the applicable transaction must: (1) complete a mortgage application online, by telephone, or face-to-face; (2) provide (and not revoke) their consent to receive and electronically execute (as permitted by applicable law)  all disclosures and related transaction documents and timely e-sign all such required documents; (3) provide all requested supporting documentation including income/asset documents needed to make a loan decision and signed disclosures upon request within 2 business days;(4) provide a fully executed purchase contract which must include all pages, addendums, amendments or revisions thereto and required signatures. This offer is only available for financing related to the purchase of a primary residence or a second home where the loan application is submitted first to Arc Home. If applying conventional financing, the contract closing date must be at least 21 calendar days after receipt of a completed mortgage application, required supporting documents (e.g., income/asset documents, employment verification, etc.), and a fully executed purchase contract. Where the financed property relates to "new construction" and an initial appraisal results in a finding that the valuation is "subject to" the completion of additional repairs, a final inspection will be required. In such case, Arc Home guarantees closing within 3 business days of receipt of a satisfactory final inspection and will extend the guarantee period for up to 3 additional business days provided that all other terms of the guarantee have been satisfied.   All condominiums must be fully warrantable, and Fannie/Freddie approved at application submission.

Ineligibility: The following types of transactions are ineligible for the Arc Home Close on Time Guarantee: (1) any refinance transaction; (2) borrower or seller-initiated changes to the original closing date documented in the purchase agreement; (3) any changes within 10 days business days of scheduled closing with respect loan amount, loan product, purchase and sale agreement or interest rate, including any change in rate locks; (4) any extension in the initially scheduled closing date due to a delay in completion of new construction, any improvements, or any repairs being made to the subject property; (5) failure by either the seller or the borrower to meet terms and requirements of the purchase and sale agreement, including seller-related delays, appraisal delays that are caused by borrower or any third-party representing the borrower/purchaser; (7) transactions involving loan amounts of $2M or greater requiring two or more appraisals; (7) delays due to force majeure events, including weather or natural disaster (regardless of whether such disasters are declared by FEMA or similar federal/state/local authority;  (8) delays caused by third parties other than Arc Home required settlement service providers; (9) any delay or failure by the borrower to respond to (and submit documentation responsive to) an Arc Home request within 2 business days; (10) non-arm’s length transactions (e.g., a purchase transaction in which a direct personal, financial or business relationship exists among any of the parties to the transaction)l  and11) any financing where the underlying loan product or program involves a Non-Qualified Mortgage Investment properties, loans insured by FHA/VA, or self-employed borrowers. Arc Home reserves the right to amend, terminate, or withdraw the Arc Home Closing Guarantee at any time without prior notice.