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Premium Pricing Requirement
(Applicable to VA loans)


Dear Licensed Partner,

Premium Pricing refers to a credit from a lender for the interest rate chosen. Premium pricing may be used to pay a borrower’s actual closing costs and/or prepaid items. Closing costs paid in this manner do not need to be included as part of the interested party contribution/concession limitation.

The funds derived from a premium priced mortgage may be used to reduce the principal balance if the credit amount exceeds the actual dollar amount for closing costs and prepaid expenses.

Sun West Mortgage Company, Inc. ("Sun West") is committed to ensure that the borrower receives lowest possible interest rate and maximum benefit available at the time of the loan transaction. If the dollar amount of credit exceeds actual closing costs and/or prepaids, interest rate of the loan will be reduced to a lower rate, if available, ensuring that credit from premium pricing is sufficient to cover the closing cost. Principal reduction is allowed for excess credit if credit from lower rate is not sufficient to cover the closing cost/prepaids.

If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.

Sincerely,

Sun West Mortgage Company, Inc.

18000 Studebaker Road, Suite 200
Cerritos, CA 90703
Phone: (800) 453-7884

SW-1: Our No Overlays Program

This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.

Equal Housing Opportunity