Reimbursement Policy

1. No Approval, No Fee

If the loan is not approved, Company will not earn, charge, or collect any consulting fee. Any funds held in escrow or deposit will be reimbursed to Client, subject to the conditions in this policy.

2. Client Must Complete the Lender's Needs List

Client must show reasonable time and effort in completing the lender's needs list. If Client does not complete the needs list within a reasonable time, no reimbursement will be given.

3. 120-Day Processing Limit

No reimbursement will be given after 120 days of processing.

4. Cancellation Requirements

Client must cancel within 30 days of loan submission. Cancellation must be in writing, to and from the lender.

5. No Double Applications

Double applications are not allowed. If Client submits a duplicate or substantially similar application to another lender, broker, or consultant, the loan must be cancelled within 30 days, and the Consulting Fee Agreement may be treated as null and void at Company's discretion.

6. Follow the Lender's Guidelines

No reimbursement will be given if Client does not adhere to the lender's guidelines.

7. Escrowed / Deposited Fees

Where a Client's consulting fee is deposited into an escrow account or Company's business account under a signed Consulting Fee Agreement, that fee is only earned and released to Company once the associated construction loan successfully closes (or, under a flat-fee option, once the loan is approved), as described in the applicable Consulting Fee Agreement.

If Client receives a conditional loan approval from the lender, the consulting fee is deemed earned by Company at that time, and no reimbursement will be issued thereafter, even if the loan does not ultimately close, as described in the applicable Consulting Fee Agreement.

8. How Reimbursements Are Processed

Eligible reimbursements are issued to the same account or payment method from which the original deposit was received, unless otherwise agreed in writing. Reimbursements are typically processed within a reasonable number of business days after the transaction is cancelled or determined not to close. Usually within 30 to 60 days.

9. Questions

For questions about a specific fee, escrow deposit, or reimbursement, please contact us directly using the information below.

Nationwide Construction Loans Inc., dba California Construction Loans

2907 Shelter Island Dr, 105-1019 San Diego CA 92106

Email: rgomez@jumboconstructionloans.com | Phone: 800-325-1809