Edge Credit Closing Cost Program
The first closing cost program that guarantees all lender, recording and title fees. The first closing cost program that gives purchasers a minimum guaranteed closing cost credit of $500.
The Edge Credit is a revolutionary approach to real estate settlements offered through First Savings Settlement Services, a joint-venture between First Savings Mortgage Corporation and Monarch Title.
Since 2003 over $7.5 million in Edge credit has been paid to thousands of homebuyers across the Washington Metropolitan area.
| Purchase Price | Loan Amount | Edge Credit |
|---|---|---|
| $300,000 | $240,000 | $500 |
| $600,000 | $480,000 | $861 |
| $900,000 | $720,000 | $1,239 |
| $1,200,000 | $960,000 | $1,617 |
Above samples are estimates. Your actual Edge credit may be more or less depending on factors of the loan.
Terms & Conditions
Homebuyers using the Edge will receive guaranteed closing costs. Settlement must occur through the offices of First Savings Settlement Services or its designee.
Guaranteed Closing Costs will include:
- Origination Fees
- Discount Points
- All lender fees (credit reports, flood certifications, tax service fees, document preparation and processing fees).
- Settlement Fee
- Title Inspection and examination fee
- Owner's and Lender's Title Insurance
- Courier Fees
- Recording fees and transfer taxes for recording the Deed and first Deed of Trust.
Guaranteed Closing Costs will NOT include:
- Prepaid interest mortgage insurance and hazard insurance premiums
- Escrow Reserves (if any)
- Administrative processing fees as charged by the Purchaser's realty firm.
- Adjustments between Purchaser and seller for taxes and/or association dues
- Elective costs to Purchase such as warranties, powers of attorney, home inspections, or repairs.
To find out more about the Edge and other First Savings Mortgage Corporation innovations contact a loan officer for more information.
