Homie Loans - Service Terms

The following Service Terms (“Service Terms”) apply to all Services provided by Homie Loans, LLC (“Homie Loans”), and are hereby incorporated into Homie Loans’ General Terms and Conditions (“T&Cs”) and Privacy Policy (“Privacy Policy”):

  1. Loan Application and Administration. User understands and agrees that Homie Loans holds licenses as a mortgage lender, mortgage broker, brokerage or loan officer, and as such User understands and agrees that Homie Loans assists users in obtaining a mortgage based upon information User submits.

  2. User’s Responsibilities & Obligations. Homie Loans cannot and does not make any decisions for User, and it is User’s responsibility to verify all information given to and provided by Homie Loans. User agrees that User will make sure all data is accurate and in User’s best interest before signing any loan documents or completing any forms. User’s use of and interaction with the Services (as set forth in the T&Cs) shall be governed solely by this Agreement, the T&Cs, and the Privacy Policy (collectively, the “Policies”). User expressly acknowledges and agrees that User alone is responsible for the content of any loan document User signs. Before executing any document by or through the Services, Homie Loans recommends that User contact an independent tax attorney to answer any tax related questions. User is solely responsible for complying with the terms and conditions contained in any such document, including providing additional information, and User alone is responsible for the consequences of any nonperformance required under such documents. By physically or electronically signing any such documents produced or transmitted through the Services, User expressly represents and warrants that User has read and that User understood all provisions contained therein.

  3. Payment Terms. User understands and agrees that payment for Services shall be paid at closing. User agrees that Homie Loans may disclose, in accordance with Federal and State Law, on the Closing Disclosure (the “CD”) the amount of origination to be paid. In the event Homie Loans act as a Broker to assist User with obtaining a mortgage loan, User may choose either Borrower-Paid or Lender-Paid Compensation for the origination payment. User understands and agrees that Homie Loans may disclose an estimated amount of compensation to be paid by User at closing on the Loan Estimate (the “LE”), but that the estimated amount is just an estimate. User agrees to hold Homie Loans, and any of its affiliates or third-party partners, harmless for any damages that may arise from User reliance on any estimates given to User by Homie Loans or associated companies. In the event that User chooses a Lender Paid Transaction, Homie Loans may not provide an estimate of the compensation amount to User on the LE. User understands and agrees that any compensation to Homie Loans will be paid for by the lender in a Lender Paid Transaction, and User in a Borrower Paid Transaction, and that Homie Loans may have contractual agreements with these lenders. Further, User understands and agrees that Homie Loans will provide User the amount of compensation paid on the CD, but that this information shall be the exclusive property of Homie Loans. Furthermore, User agrees that User will not disseminate any information about User’s loan application, regardless of where and how this information disseminated. User agrees to keep the loan application information, quotes, and disclosures of User’s loan confidential between User and Homie Loans. Only with written consent from Homie Loans can User share with external parties the contents of User’s loan application and rates. User agrees that Homie Loans shall be paid for all Services ordered through Homie Loan’s Site, Platform, or third-party websites (partners, etc.) at the time of closing, and provide Homie Loans express authorization to be compensated at the time of closing. User agrees to pay any attorney fees, court costs, or other costs incurred in collection of delinquent amounts owed to Homie Loans.

  4. Lowest Price Guarantee. Homie Loans will pay User $500.00 if Homie Loans cannot beat the total fees listed in Section D., Loan Costs, on a bona fide competitor’s (the “Competitor”) currently locked loan estimate (the “LE”). The loan term, program and rate must be identical for comparison. If User chooses to take advantage of Homie Loans’ Lowest Price Guarantee, User agrees to provide Homie Loans with the Competitor’s currently locked LE. Homie Loans shall have three (3) business days from receipt of the Competitor’s locked LE to provide User with a locked LE showing a lower fee sum total in Section D. The Lowest Price Guarantee only applies to products offered by Homie Loans in states where Homie Loans is licensed and where allowed by law. The Lowest Price Guarantee may not be available in all states. In the event Homie Loans cannot provide a locked LE with a lower fee sum total in Section D and User chooses to close with the Competitor, User must send Homie Loans the Competitor’s unaltered Closing Disclosure (“the “CD”) within seven (7) business days of closing. Upon receipt, Homie Loans will pay User $500.00. This guarantee is only available for the first locked LE submitted from a Competitor. In the event that User does not close with the Competitor whose locked LE had lower loan costs in Section D., User forfeits the right to any claim to the $500 Lowest Price Guarantee.

  5. Billing Issues. User must notify Homie Loans about any billing problems or discrepancies within 90 days after charges first appear on User’s account statement. User agrees to waive User’s right to dispute any problems or charges if not brought to Homie Loans’ attention within 90 days of the occurrence of such problems or charges.

  6. Website Data. User understands and agrees that all monthly payment amounts, APRs, fees, rates, points, and loan origination data provided by the Services are estimations, and only to be used as such. This data is based on limited information, and User agrees to only use such data as an estimation for all purposes. User agrees that once a loan application has been submitted, User will hold Homie Loans, and any affiliates of Homie Loans, harmless for damages from monthly payment amounts, APRs, fees, rates, points, and loan origination data related to User’s application that differs from those listed through the Services. User also acknowledges and understands that these estimates do not include monthly mortgage insurance premiums, property taxes, and homeowner’s insurance. Individual financial and personal circumstances vary, and as such, by accessing the Services, User acknowledges that all products and services, including fees, regulations, and rates may be different from those listed through the Services.

  7. Limitation of Liability. Notwithstanding terms set forth in the T&Cs, Homie Loans expressly disclaims any liability for, and User further agrees to indemnify Homie Loans in connection with, any dispute arising out of or related to User’s use of the Services and the content of, and User’s compliance or non-compliance with, any documents produced or transmitted by or through the Services. By signing any documents produced or transmitted by or through the Services, User expressly releases Homie Loans from any liability (i) in connection with the content, legality and enforceability of such documents, (ii) related to the subject matter thereof, or, (iii) arising out of the transactions contemplated therein.

  8. Service Cancellation. User may cancel User’s application at any time by contacting Homie Loans at support@homieloans.com. If there has been no activity or response from User regarding an application for a period of more than 30 Days, Homie Loans reserves the right to remove such application in its sole discretion. Homie Loans will remove any applications where timely payment has not been made or has been revoked.

Updated: 11/29/21