*Customer must receive a fully approved, not conditional, underwritten Waterstone Mortgage Platinum Credit Approval (PCA) issued prior to the date of the purchase contract to qualify for the Platinum Credit Approval Closing Guarantee (PCACG) and must complete all steps required by Waterstone Mortgage as part of the loan process, including, but not limited to, all documentation, information requested, and authorization for Waterstone Mortgage to obtain a full tri-merge credit report. The PCACG shall not apply unless all terms and conditions of the PCA have been met. The PCA is a pre‑approval program offered by Waterstone Mortgage. In accordance with federal regulations, consumers are not required to provide verifying documents until they have submitted a loan application, received a Loan Estimate Disclosure, and stated their intent to proceed with the loan transaction. A pre-approval is not an offer to enter into an agreement, which must be made separately and in writing, and should not be construed as a commitment to lend. The PCACG becomes void in the event of any material misrepresentation in the customer’s application, or an adverse change in the customer’s credit history, employment, income, assets, debt, or other factors affecting their financial status. Further, the PCACG is contingent upon the honest and accurate representation of all parties involved. Any act of fraud, misrepresentation, or deceit committed by either the buyer or the seller during the course of the transaction shall render the PCACG null and void. Provided the loan does not close due to a Waterstone Mortgage underwriting error and the requirements outlined herein are satisfied, Waterstone Mortgage will pay the seller of the subject property $5,000 within ten (10) business days. Rates, program terms, and conditions are subject to change without notice. The PCACG is for conforming Conventional, FHA, VA, and USDA loan programs only. If you elect to change loan programs after the PCA approval and your eligibility for the program no longer qualifies, the PCA approval will render this offer void.
