Horizon Bank

mortgage loans
home equity lines/loans

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Terms of Use | What to Expect

Horizon Bank N.A. will guarantee that new home purchase loans will close within 30 business days. This guarantee requires that the applicant, the sellers, and the real estate agents must be available to close the transaction on or before the 30th business day. The 30 business day closing window is dependent upon receiving the following documentation within 2 business days after the date on the original signed application:

- Receipt of the required signed application disclosures returned to the bank from the applicant.
- All requested loan documentation as required from the applicant. This required information is provided by the mortgage loan advisor during the application process or via online disclosure when application is submitted online.

In addition, access to the property for appraisal must be given within 3 business days after the seller is contacted by the bank’s assigned appraiser.

This new home loan guarantee applies to the following mortgage loans:
- New home purchases using one of the following 3 loan types: 1. A conventional mortgage loan in amount no greater than the current GSE maximum loan amount with a minimum down payment of 10%; 2. An FHA mortgage loan or; 3. A VA mortgage loan.
- The home being purchased must be located on a property of less than 10 acres, within a 25 mile radius of the nearest Horizon Bank Office, and occupied as your primary residence or second home.

The guarantee is void if Horizon Bank is delayed or unable to obtain information from third party vendors when obtaining verification of employment, assets, income, approval from private mortgage insurance, or eligibility related to government benefits. The guarantee is also void if any change in circumstances occurs requiring that revised, federal disclosures be re-issued to you. Examples of such circumstances are: A change of loan amount, loan terms, loan rates or fees; a change of loan program or product; or a change of sales price or appraised value.

If the loan is approved and the loan is not closed within the 30 business days of receipt of all required documentation as noted above, Horizon Bank will credit the borrowers $500 off the closing costs of the loan. This new home purchase guarantee offer is for loans closed with Horizon Bank and is subject to change without notice, and may be modified or discontinued at the Bank’s sole discretion.

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Horizon Bank