*** Must be submitted BEFORE the 60th day.
Extensions are approved by HOC. (eHP needed)
Settlement must take place within 60 days from the reservation date with eHP. The interest rate reserved will be locked in for 60 days.
Settlement AFTER 60 Days from the Reservation Date:
a) A One-time 15 day extension to settle at the SAME rate will be granted.
b) Settlements beyond the 15 days and up to 30 days will be granted at the HIGHER of the original rate OR the rate at time of extension.
c) If the settlement does not take place within this 90 day period you will not be able to re-reserve until 60 days after the 90 day period.
EHP’S SYSTEM WILL LOCK THE LOAN IF NOT SETTLED WITHIN THIS TIME FRAME.
PLEASE NOTE: The lender compensation is based on the ORIGINAL RESERVATION DATE and not the settlement date. Compensation Fees are affected by these extensions