Close On Time Guarantee - Terms and Conditions

Take comfort in knowing that we will stand by our word and ensure you close on time.

If Optimum First Mortgage (“OFM”) is at fault for missing your closing date, OFM will pay up to $1,000 to cover expenses. The total amount paid by OFM under this Guarantee will be given to the buyer to be used towards closing costs, or other expenses legally allowable. To qualify for the $1,000 Close On-Time Guarantee, you must meet the eligibility requirements below and acknowledge that you understand the terms and conditions.


1. Your mortgage must be associated with a conforming loan amount purchase transaction approved through Fannie Mae or Freddie Mac underwriting guidelines.
2. You must sign up for access to OFM’s online portal and utilize it to upload all requested documents.
3. You must upload the fully executed purchase contract into OFM’s portal on the day it is executed.
4. All documents requested by your loan officer must be received within 24 hours of request.
5. Escrow period must be 30 days or more.
6. You may not request changes to the loan terms during the process.
7. The final appraisal must be received by OFM no later than twelve business days prior to the closing date and appraise for the purchase price or more.
8. You must lock your interest rate at least ten business days prior to your closing date.
9. You must set your appointment to sign loan documents within a three-hour window of the time(s) requested by our escrow officer.
The Close On-Time Guarantee is void if:
1. Loan is Jumbo, VA, FHA, or other Non-Conforming loans.
2. The closing date is missed due to delays caused by any person or company that is not OFM. This includes but is not limited to the borrower(s), a third party, or the seller.
3. Information provided by the borrower(s) on the application could not be verified, was inaccurate, insufficient;
4. The closing date was missed due or any delay due to an act of God, strike, riot, act of war, terrorism, earthquake, pandemic, government shutdown or similar event beyond OFM’s reasonable control.
5. Loan is cancelled or not funded by OFM.

*The Restrictions above apply only to your qualification for the Close On-Time Guarantee. You maintain all legal rights to shop for your settlement service provider(s) and under no circumstances are you required to use OFM’s preferred settlement service provider. Please refer to the Settlement Service List Provider Disclosure for information pertaining to OFM’s preferred provider(s). OFM reserves the right to amend or terminate this Close On-Time Guarantee at any time and without prior notice. Loans already in processing will be honored by OFM.