Purchasing a new home is an exciting milestone, and ensuring its protection is a top priority. If you’re a first-time homebuyer working with Prosperity Home Mortgage in select states, you might be eligible for a valuable benefit: a one-year home warranty from Cinch Home Services. This offer aims to provide you with peace of mind, covering potential unexpected repairs to your home’s systems and appliances. Let’s delve into the details of this offer and understand what Cinch Home Services brings to the table.
This special offer provides eligible borrowers with a lender credit of $527.00 to cover the cost of a one-year Cinch Home Warranty, valued at $526.18. This home warranty is designed to protect you from the financial burden of unforeseen breakdowns of covered appliances and home systems. Imagine the relief of knowing that if your washing machine suddenly stops working or your air conditioning fails, you have a plan in place to help manage the repair costs.
However, it’s important to understand the eligibility requirements and terms associated with this Cinch Home Services offer. Firstly, this offer is specifically for first-time homebuyers securing a new loan with Prosperity Home Mortgage, secured by a first mortgage or deed of trust. To qualify, your loan must close within 60 days of application, and you must present this offer at the time of application. Furthermore, your total household income must be less than or equal to 80% of the area median income (AMI) where the property is located. This offer is currently available for properties in California, Delaware, Maryland, Minnesota, New Jersey, Pennsylvania, Virginia, and the District of Columbia.
It’s also crucial to note that certain conditions apply to the Cinch Home Services warranty itself. Covered items must be in good working order at the start of the service agreement, with no pre-existing issues. A deductible is required at the time of each service request. Additionally, if you choose to cancel this Cinch Home Services plan, you will not be eligible for a refund. Remember to carefully review the full service agreement from Cinch Home Services, Inc., which will be sent to you upon enrollment.
While Prosperity Home Mortgage, LLC is offering this benefit, it’s important to understand that they are not affiliated with Cinch Home Services, and this offer does not constitute an endorsement of Cinch Home Services‘ products or services. This means it’s wise to consider Cinch Home Services as you would any home warranty provider – by understanding your needs and reviewing their coverage details.
In conclusion, the offer of a one-year Cinch Home Warranty through Prosperity Home Mortgage can be a significant advantage for eligible first-time homebuyers. It provides a safety net against unexpected home repair costs, offering valuable peace of mind during your initial year of homeownership. Be sure to check your eligibility, understand the terms and conditions, and explore if Cinch Home Services aligns with your home protection needs.
