$5K Close-on-time Guarantee

$5,000 nbkc Close-On-Time Guarantee

nbkc bank is offering a $5,000 Close-On-Time Guarantee (“Guarantee”) if you (“you”, “your”, or “buyer”) miss your closing date on a qualifying purchase mortgage loan transaction subject to certain limitations and exclusions. The terms below exclusively represent the agreement between nbkc bank and you for this program.

General Rules:

• The $5,000 Close-On-Time Guarantee is open to residents of the 50 United States and the District of Columbia, who are 18 years of age or older, and are not otherwise ineligible as provided herein; 
• nbkc bank guarantees that you will close a loan by the date specified in your loan contract subject to limitations and exclusions as provided herein; 
• Upon a successful claim, nbkc bank will pay $2,500 to the buyer and $2,500 to the seller parties per the original executed purchase contract; 
• Your mortgage must be a purchase transaction that is approved and funded; 
• Guarantee does not apply when the close date is changed to a date earlier than as stated in the originally provided purchase agreement; 
• The information on your loan application must be accurate and must not contain fraudulent information or material misrepresentations; 
• Buyer and Seller will be responsible for the payment of any and all taxes related to this Guarantee; 
• Only one loan may be subject to the on-time Guarantee at a time; 
• nbkc bank will not be responsible for lost, late, or misdirected emails or mail attempting to enforce the Guarantee. Nor will nbkc be responsible for any typographical or other error in the administration of the Guarantee; 
• The Guarantee shall be governed by, subject to, and construed in accordance with the laws of the State of Kansas, excluding all conflict of law rules; 
• nbkc bank reserves the right to change these terms or end this program in our sole and absolute discretion without notice. 

Exclusions:

• Any of the above deadlines are not met. 
• The appraisal is not scheduled within 48 HOURS of first contact attempt from appraiser; 
• The loan, as initially structured, does not meet federal/state regulatory requirements and/or agency guidelines; 
• The offer is void where prohibited by applicable law or investor requirements. The offer is also void in the event that, due to re-disclosure prior to closing, federal or state regulatory requirements require any waiting period that extends beyond the specified closing date in the fully executed purchase agreement. This Guarantee does not apply to situations where delays are legally required under the TILA-RESPA Integrated Disclosure Rule (TRID); 
• The offer is void if a contingency for the sale of borrower’s primary residence is not cleared prior to or at the closing date specified in the fully executed purchase agreement; 
• The Guarantee is not available for the following transactions: 
  • Refinance loans 
  • Bank owned properties 
  • Buyers using relocation companies 
  • Properties being purchased through a "short sale" 
  • Non-arm's length transactions 
  • Transactions involving co-ops 
  • Non-warrantable or Non-Agency condominiums 
  • Non-Conforming/Jumbo/Non-Agency Loans 
  • Employees of nbkc bank and members of their immediate family or persons living in the same household; 
• The closing date is missed due to delays attributable to the borrower(s), a third party, the seller, or acts of God outside the control of nbkc, including inclement weather; natural disaster, catastrophic event, war, strike, riot, crime, act of terrorism or other public emergency; 
• The Guarantee will not apply in instances where nbkc, in its sole and absolute discretion, deem your claim to be invalid, fabricated, embellished, frivolous, fraudulent, or otherwise without merit. This includes attempts to “game” the Guarantee without any real intention to complete the purchase mortgage process. 

Claiming the Guarantee

• Within FIVE (5) BUSINESS DAYS after closing, you must submit a claim to nbkc bank by sending an email to:
  ClaimMyGuarantee@nbkc.com 
• This email must contain: 
  • Your loan number 
  • Contact information including phone number 
  • The reason you believe you are eligible to claim the Guarantee 
  • All document submission dates/evidence of complying with the agreement 
• Upon receipt of the claim, nbkc will contact you within THIRTY (30) CALENDAR DAYS. 

Deadline	Required Action
Day 1 Loan Application	Complete a loan application with nbkc
Three (3) Business Days	All borrowers must acknowledge nbkc’s Close-On-Time Guarantee form, accepting the terms and conditions of the program within three (3) business days of completing the application
Two (2) Business Days of request	All item requests must be received by nbkc
Thirty (30) Calendar Days or more	Provide nbkc a copy of fully executed purchase contract- closing must be scheduled for 30+ days from receipt of purchase contract
Fifteen (15) Business days prior to close	If mail-away closing or Power of Attorney is required, notify nbkc
Ten (10) Business Days prior to scheduled closing	You must lock your loan rate Meet all loan requirements and conditions including clear marketable title You may not request loan term changes (e.g. changes in loan program, term of loan, down payment amount, title vesting, additional or removal of borrower, or make insurance changes)
Five (5) Business days prior to scheduled closing	Final appraisal and/or completion certificate, with all revisions, and the actual appraised value must be equal to or greater than the purchase price listed on the purchase contract Certificate of occupancy for VA and FHA
24 HOURS prior to scheduled close of escrow	In all escrow states, all fully executed approvable documents required by funding must be received by nbkc and all funding conditions must be met
Day of Signing	For VA Loans, the alive and well certification must be received on or after the day of signing but before the loan can fund