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No Cost - No Obligation - Secure

Apartment Loan Closing Cost  Guarantee Disclosure

CommercialBanc (Apartment Lender) guarantees that a borrower's closing costs will not be higher than quoted in your apartment loan commitment provided by Lender for Series or Plus Apartment Loan Programs. The Closing Cost Guarantee applies to closing costs in which the Apartment Lender can control, specifically:

• 1 Fee Closing Cost
• Apartment Lender Origination Fee
• Apartment Lender Underwriting Fee
• Apartment Lender Processing Fee
• Apartment Lender Administration Fee
• Apartment Lender Broker Fee if Applicable

CommercialBanc's closing cost guarantee is not applicable to 3rd party fees, fees in which Lender has no control over, specifically but not limited to:

• Title Costs
• Title Insurance
• Any 3rd Party Fees
• Attorney's Fees
• Prepaid Interest
• Defeasance Fees
• Appraisal Fee
• Environmental Fee

Should CommercialBanc fail to provide the closing costs agreed upon through the executed Apartment Loan Closing Cost Guarantee, CommercialBanc will waive any Apartment Lender fees, origination fees, and/or processing fees for the specific transaction. 

CommercialBanc will not refund any cash monies to any borrower under any circumstance.  If a credit is due the borrower, CommercialBanc will issue a credit to the borrower to be credited towards closing costs for the specific transaction.

Should there be a dispute concerning CommercialBanc's Apartment Loan Closing Cost Guarantee, the dispute will be handled through arbitration by a designated arbitrator in the Lenders state in which it is incorporated.

Should a borrower materially misrepresent a fact in their apartment loan application, CommercialBanc will consider our interest rate and closing cost guarantees to be null and void.

Should a borrower fail to deliver a requested document in a timely manner, as defined by Florida State Statute Title XXXIII Chapter 494, CommercialBanc considers our Interest Rate and Closing Cost Guarantee null and void.

Should you have any further questions, please contact your assigned apartment mortgage banker for more information.

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