top of page
Typing

Home Loan News..

Re-Introducing Our Keys On Time Program

  • Writer: Michael Belfor
    Michael Belfor
  • May 26, 2021
  • 3 min read

You’re ready to take the next step toward homeownership, but want to stand out from the crowd of other buyers when it comes time to put your offer in on the home you’ve chosen. Your dream of homeownership is important to us at American Pacific Mortgage and we’re here to help set you apart from the competition with our Keys On Time loan program.


According to Realtor Mag, one thing homebuyers can do is make their bid competitive. This doesn’t just mean offering the highest bid, but rather offering the an attractive bid. That can be partly accomplished by removing restrictions, removing financing contingencies or being flexible with dates. One of the ways you can set yourself apart is with Keys on Time, one of our specialty home loan programs.


Our Keys on Time program can help you in the following ways:


Get pre-approved so that you can shop for a home with confidence knowing what you can afford and that you have preliminary approved financing.


Waive your loan contingency when you make your purchase offer because you have been fully pre-approved, putting you at the front of the line.


Let the seller know they can be rest assured that your offer will close on or before the close of escrow, giving them confidence that they won’t have to worry about unnecessary delays when they choose your offer.


A competitive market requires ultra-competitive offers -- with APM’s Keys on Time program, you can present your strongest offer without a loan contingency (just an appraisal contingency). This combined with the ability to present sellers with a guarantee that you will close escrow on time will make your offer more attractive to sellers and better able to compete against all-cash or higher offers.


First, there is a Full KOT program and a Lite KOT program.


Full Keys on Time™ Program

The Full KOT program comes with the $2,000* commitment from APM, but buyers must begin working with APM before they make an offer on a house. Buyers who partner with APM before they pick out a home can receive a conditional loan approval, which means that they’ll have a fully underwritten approval before they even put an offer in on a house. This conditional approval covers everything except the property and appraisal, putting your offer in a stronger position.


This is a perfect way to get a leg up with sellers, as they’ll know your offer is backed by a fully underwritten approval. That, combined with our KOT commitment to close on time, provides the type of security sellers could only get through cash offers—until now!


Lite Keys on Time Program

Lite KOT provides the same commitment as the full version, but it comes with a $1,000 guarantee fee if the loan doesn’t close on time. This “lite” version means that the loan wasn’t fully underwritten prior to the offer being made. It’s the same commitment, but it happens a little later in the process.


Other KOT Considerations

If you want to get your offer accepted with APM’s Keys on Time, you’ll also want to understand the program’s basics, including the following:*

  • Your mortgage must be a purchase transaction

  • Your closing date must be scheduled no sooner than 28 calendar days from the time we receive formal notice of your Intent to Proceed with the transaction (30 calendar days on a VA loan)

  • The loan must be for less than $2 million

  • The loan cannot be for a bank-owned property or a home purchased through a short sale

As with most things in life—and all things mortgage-related—accuracy and timeliness are extremely important when you’re trying to get your loan closed . . . any delays by the buyer, a third party, or the seller can void the guarantee, as can inaccurate or unverifiable information on the application.

To find out more, or to get started - contact us today!

 
 
 

Comments


The Belfor Team

Mortgage Banker

Branch Manager

NMLS 264700

CA DRE 01878769 
SF.415.231.0900

OC. 949.468.0012

equal housing lender.png

​ NMLS CONSUMER ACCESS LINK: NMLS #1850

Privacy Policy APM Privacy Policy 

APM Disclosure Policy
 

Belfor Team/American Pacific Mortgage - 30011 Ivy Glenn Dr. Ste 221 – Laguna Niguel – CA 92677. NMLS 398359.

© 2020 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Licensed by the Dept of Financial Protection and Innovation under the CRMLA. Licensed in CA. CA DRE #01215943. NMLS 1850. Equal Housing Opportunity.

SMS Disclosure:

By providing a telephone number and submitting the form you are consenting to be contacted by SMS text message (our message frequency may vary). Message & data rates apply. Reply STOP to unsubscribe from further messaging. Reply HELP for more information. See our Privacy Policy.

Privacy Policy for Communication Phone/Email/SMS:

We do not share data with third parties for marketing/promotional purposes.

By submitting your phone number to The Belfor Team at American Pacific Mortgage, you are authorizing a representative of our company to send you text messages and notifications. Message frequency may vary. Message/data rates apply. Reply STOP to unsubscribe to a message sent from us, and HELP to receive help.

bottom of page