Mortgage Lender Credit Disclosure 2022
Lender credit must be applied for at time of application. May be used in combination with other grant programs. Additional grant programs must be approved by Alerus prior to the application. All guidelines of the additional grant program must be followed. Alerus lender credit will be applied prior to seller concessions. Seller concession maximum contribution limits and cash back guidelines apply. Available with any Alerus eligible product. Property must be an owner occupied primary residence. Funds are available beginning August 1, 2022, and are available until all available funds have been granted based on completed applications. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Member FDIC.
*If the appraisal fee is greater than $500, Alerus will pay $500 and the client will be responsible for the balance. If an appraisal is not required, the $500 credit will not apply.