Millennials and The First Home Purchase: 5 Ways to Prepare

Millennials and The First Home Purchase We know that in many cases millennials are waiting longer to settle down than previous generations to make their first home purchase. However, as the job and housing markets improve and the recession becomes a thing of… Read More

The 4 red flags to look for before buying a home

When hunting for your next home, there are a number of aspects you need to be mindful of, including a residence’s location, size, price and condition. And, as a housing purchase is likely the largest transaction you will undertake in… Read More

The 3 trees you don’t want to plant in your yard

3 Trees You Don’t Want To Plant In Your Yard Oftentimes, as soon as an individual closes on a housing purchase, they immediately begin to customize certain aspects of their new home. A popular place to start is the exterior,… Read More

Home improvement missteps that can hurt your house’s value

Home Improvement Missteps That Can Hurt Your Home’s Value Buying a home can be a great investment, as it allows individuals to build equity while providing shelter for themselves and their families. Oftentimes, homeowners choose to undertake projects in order… Read More

Common repairs new home owners choose to make

Even though you had an inspection completed before finalizing a home purchase, odds are, there are going to be a number of little repairs you will want to have taken care of upon moving into your new residence. These can… Read More

Features that can increase your home’s curb appeal

Features That Can Increase Your Home’s Curb Appeal As residential sectors along the East Coast continue to show signs of significant improvement in sales figures and price levels, current homeowners may be well positioned to make a substantial return by selling… Read More

Evaluating neighborhoods’ qualities before buying a home

In the market for a home? You’re likely considering a number of aspects, including the home’s size, features and price. However, you should also take the surrounding area into account when hunting for a residence to purchase. Many factors come… Read More

Comparing prices to find the best home for you

Have you recently made the decision to pursue the path to homeownership? If so, congratulations! You may soon join the millions of consumers who have also chosen to purchase a house of their very own. While there are countless benefits to… Read More

Finding the right home for you and your finances

The home buying experience can be one of the most exciting times in your life. But, if you’re ill-prepared, or unaware of your purchasing power, it can be fraught with financial difficulty and stress. Accordingly, you can save yourself a… Read More

Four mistakes to avoid making while shopping for a home loan

When buying a new home, most consumers look to take advantage of financing opportunities to fund the transaction. Mortgages are the key to potential home buyers, but much like the house hunting process, significant consideration should be paid to the… Read More

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* This radius Pre-Approval/Credit Commitment Promise Contract ("Promise") is made and entered into, as of the date of the last signature below, by and between radius financial group inc. ("radius" or "Lender"), and the below-named Buyer and Seller. In consideration of Seller's reliance on this Promise in entering into a real estate purchase transaction with Buyer, the Parties agree as follows:

PROMISE TO SELLER. In the event that a Seller is induced to accept an offer from, and enter into a purchase and sale agreement with, a radius borrower on account of this Promise in connection either with (a) a radius Pre-Approval or (b) a radius Credit Commitment and the Buyer is unable to close on such Eligible Transaction due to a mistake made by radius (with accurate and up-to-date information) on such Pre-Approval/Credit Commitment (a "Bad Pre-Approval"), then radius shall pay Seller ten thousand dollars ($10,000), subject to the terms and conditions herein as Seller's sole remedy.

PROMISE TO BUYER. In the event that radius issues a Bad Pre-Approval to Buyer on an Eligible Transaction, radius will reimburse Buyer reliance expenses up to one thousand dollars ($1,000) for a home inspection, appraisal, or legal expenses actually paid out-of-pocket by Buyer, subject to the terms and conditions herein. This payment shall be Buyer's sole remedy.

ELIGIBLE TRANSACTION. For purposes of this Promise, an "Eligible Transaction" is a purchase money mortgage transaction for a primary residence (made on or after April 1, 2018) (not made to a radius employee or immediate family member), provided that the loan is a Conventional, USDA, VA, or FHA loan product for either (i) an existing home resale or (ii) a newly constructed home that is to be delivered and closed within ninety (90) days of the P&S.

CONDITIONS. The applicable radius Pre-Approval must not have expired prior to the date of the P&S. Offers/P&Ss cancelled due to home inspection issues or title defects are not covered under this Promise, and this Promise is void if a Bad PreApproval is the result of: (i) a change in Buyer's financial position, (ii) property specific requirements or expenses (e.g. homeowner's association dues/fees, flood insurance, or property taxes), or (iii) loan product availability or underwriting requirements, or third-party actions outside of radius' control.

FUNDS DISBURSEMENT. Any funds due and payable under this Promise will be paid if requested by Buyer or Seller in writing within 90 days of the date of an applicable Adverse Action Notice and accompanied by a fully-executed copy of this Promise. Any payments made under this Promise will be reported to the Internal Revenue Service by radius on a Form 1099-MISC or as otherwise required by then-applicable law. Please consult your tax advisor for any tax implications.