Pursuing preapproval: Tips for improving your credit score

Unless you’ve amassed the capital needed to entirely finance a cash purchase of a permanent residence, odds are, if you’re looking to buy a home, you will fund the transaction with help from a trusted lending company. Such organizations can… Read More

Tips for newlyweds looking to purchase a home

Did you just tie the knot with your loved one? Hoping to buy a house and start your family? Homeownership can greatly benefit you, as well as your growing family, by providing a sense of stability and began building equity… Read More

Helpful tips on saving up for a down payment

If you’re planning on making a residential purchase in the near future, odds are, you have been examining your personal savings and taking a close look at your financial situation. While mortgage rates and asking prices are important factors to… Read More

Four common questions about title insurance

For those consumers seeking residential lending, one of the many financial aspects they will want to take into account is an owners title insurance policy. Purchasing a lender’s title insurance policy is required whenever a mortgage is given on real… Read More

Appraisal vs. Inspection: What’ the Difference?

When pondering the purchase of a new home, an avalanche of considerations will soon follow. What can I qualify for? Where do I want to live? How much down payment do I want to have? While these questions are highly… Read More

What is a Debt to Income Ratio?

What Roll Does Debt Play in Your Mortgage Approval Aside from possibly credit, debt will have the greatest impact on your ability to obtain a mortgage. Whether we’re considering the payment on the property you are preparing to finance, or… Read More

Questionable Assets

Fewer topics in the home finance process generate as many questions as those with regard to documenting assets and reserves. Specifically the assets you are able to use for a down payment when you’re buying a home. What is an… Read More

Appraisal – Maybe You Need One, Maybe You Don’t!

One of the primary factors in the conventional home financing process these days, whether it be a purchase or a refinance transaction, is the appraised value of the property. In this article we’ll get into how appraisals work and what… Read More

The Importance of a Home Inspection

One of the best choices that you can make as a prospective homeowner is to have a home inspection done on any home on which you plan on buying and have an accepted offer. Most standard real estate contracts allow… Read More

Owning Versus Renting

While the question of “should I buy or rent?” may have had a different answer even a few years ago, declining property values have made the current real estate market a boon for home buyers, more specifically, first time home… Read More

Poli Mortgage Group is a Division of radius financial group inc. Corporate NMLS #1846. radius financial group inc. is an Equal Housing Lender. Poli Mortgage Group is licensed in CT, DC, FL, ME, MD, MA, NH, PA and RI. For more licensing information please visit: https://polimortgage.com/licenses/ or by visiting www.nmlsconsumeraccess.org. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs rates, terms and conditions are subject to change and are subject to borrower qualification. This is not a commitment to lend. The content in this website has not been approved, reviewed, sponsored or endorsed by any department or government agency.

* 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.