Terms & Conditions
Federal Title & Escrow Company ("FTE"), through its REAL Credit™ program, offers homebuyers a substantial credit to reduce their closing costs. Homebuyers will receive a credit simply by choosing FTE as the settlement agent and ordering services online.The following sets forth the terms & conditions by which a REAL Credit™ partner (real estate agent, mortgage lender) or homebuyer may qualify and participate in this program:
* The REAL Credit™ partner or the homebuyer must order settlement services online at www.federaltitle.com.
* A REAL Credit™ partner must be a licensed real estate agent in the District of Columbia, Maryland or Virginia.
* The subject property must be located within the Washington, DC metro area, including but not limited to Washington, D.C. proper; Montgomery County, MD; Prince George's County, MD; Arlington County, VA; Fairfax County, VA; City of Alexandria, VA.
* A homebuyer will receive the benefit of the credit (or a portion thereof); subject to their lender's underwriting requirements.
* A homebuyer must elect to purchase owner's title insurance coverage without the benefit of a reissue rate discount in order to receive the credit (only applies for DC & MD properties). However, FTE will honor a reissue rate discount in lieu of the REAL Credit™.
* Homebuyers will be required to attend the settlement at the offices of Federal Title & Escrow Company, located in the Chevy Chase Pavilion Building at 5335 Wisconsin Avenue, NW, Suite #700, Washington, D.C., 20015.
* The REAL Credit™ will not apply to the following types of transactions: purchases of new construction; purchases of "short sale" properties; purchases of foreclosure properties. FTE reserves the right to withdraw the REAL Credit™ for any of the aforementioned types of transactions.
* Participation in this program is a privilege conferred by FTE and does not create any rights to continued participation by a REAL Credit™ partner. FTE may terminate any REAL Credit™ partner, or the program itself, with or without cause, in its sole discretion. Furthermore, FTE reserves the right and has sole discretion to alter the herein stated terms & conditions as well as the credit amounts.
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Closing Costs Explained Visually
Whether buying a new house or refinancing your home, you'll feel more in control when you understand the closing process.
