$10K Closing
Guarantee

We are putting our money where our mouth is.

Still looking for a home loan? No problem. You’re in the right place. We’ll pay the seller $10,000 if we can’t close your loan.

$10K Closing Guarantee

What Is The 10K Guarantee?

The $10K Guarantee equips buyers with the confidence to make competitive offers through pre-underwritten approval, establishing precise budget boundaries. This assurance gives sellers trust in the financing, making it easier for them to say YES and accelerating the closing process.

What’s in it for you?

Signing a contract

  • A 5-star team of experts dedicated to closing your loan.
  • An added incentive for sellers to accept your offer.
  • $10,000 guaranteed if we don’t follow through.

What we need to get started:

  • Supply all necessary documentation to complete the pre-approval process
  • Submit your pre-approval file to our underwriting dept for approval
  • Obtain & send in all documents the underwriter is requesting
  • Go search for your new home!
  • A copy of the contract to purchase your new home — signed and dated by you and the seller

How It Works:

  • Go through the Underwritten Pre-Approval Process
  • We will review the PGS Approval Package and your closing guarantee options together after your pre-approval conditions are cleared. The $10K Guarantee Certificate is subject to review of the property and required transaction documents once an offer to purchase is accepted. If the loan fails to close due to a lender-controlled variable, we will send a $10,000 check to the seller. Your accepted purchase offer must match the terms of your Certified Pre-Approval or the $10K Guarantee may not be applied.
  • The buyer(s) & seller(s) to sign the PGS Home Loans, Inc Closing Guarantee agreement prior to all parties entering escrow

Terms and Conditions

While PGS Home Loans is confident in closing, extenuating circumstances may cause delays or challenges outside of PGS Home Loans’ control.

If delays or challenges are not within the control of PGS Home Loans, the payment to the seller is then null and void.

Such circumstances include, but are not limited to:

(1) Acceptable appraisal not received at least 7 days prior to the scheduled close;

(2) Acceptable purchase terms and title report not received at least 7 days prior to scheduled close;

(3) Eligibility due to required repairs or HOA documentation;

(4) Delays due to seller, and/or escrow not providing required items;

(5) There can be no material change to the borrower’s application information used for approval.

Any negative change to the borrower’s application such as job loss or new credit could result in cancellation of guarantee;

(6) In the case of a contingent sale, the guarantee is void if the contingent sale does not close.

The $10,000 Guarantee cannot be issued for investor-underwritten loans, reverse mortgages, and any loans requiring down payment assistance.

This in no way constitutes an agreement between the seller and PGS Home Loans.

The seller cannot require the buyer to use PGS Home Loans as their lender and the buyer is free to shop other loan services.

Credits the buyer receives cannot exceed actual closing costs.

Further Restrictions - The PGS Home Loans, Inc Closing Guarantee Program will not apply to the following:

  1. If Borrower withdraws or cancels his/her loan with PGS Home Loans
  2. Delays due to construction of the property
  3. Delays due to natural disasters or events, including flood, fire, earthquake, tornado, blizzard, public or national emergency, and any other extraordinary or catastrophic event which is beyond the control of the Borrower, Seller, and/or PGS Home Loans
  4. Delays due to Borrower, for example, if Borrower fails to deliver any required documentation to PGS Home Loans within 48 hours of the request
  5. Delays due to Seller
  6. Delays due to third parties on behalf of Seller and/or Borrower and who are unaffiliated with PGS Home Loans
  7. Delays due to third parties not on behalf of Borrower and/or Seller and/or PGS Home Loans
  8. Any delay due to a government agency, for example, in delivering any item or approval for closing
  9. If the Borrowers assigns the Purchase Agreement to any third party
  10. If the closing date in the Purchase Agreement changes
  11. If there are changes to the Borrower’s employment or in the information relied upon to credit approve and/or qualify the Borrower
  12. If the Borrower provides any fraudulent or misleading information in the Borrower’s loan application and which PGS Home Loans becomes aware of prior to closing
  13. If the appraisal value of the property does not equal or exceed the purchase price of the property
  14. If any required condition to close specified in the Purchase Agreement is not completed by either Borrower or Seller, e.g., construction, repairs, replacements, lien clearance, government inspections, etc.
  15. If the sale of Borrower’s primary residence is a contingency specified in the Purchase Agreement and which is not cleared prior to or at closing
  16. If prohibited by applicable law or investor requirements
  17. If there are changes to agency and/or investor guidelines that delay and/or affect loan eligibility
  18. If re-disclosure is required and applicable federal and/or state regulatory requirements require an additional waiting period before closing such that the closing extends beyond the date specified in the Purchase Agreement; or if the property is determined to be in a flood zone and FEMA does not issue flood insurance.
  19. If the seller cancels the purchase transaction for any reason.
  20. In all cases above, the Borrower's eligibility in the PGS Home Loans Closing Guarantee Program may be affected and PGS Home Loans, in its sole discretion, will not be required to pay the Guarantee.