I Applied for mortgage with Citi with a closing date on a new home being built by XXXX XXXX. Citi did n't schedule final inspection properly and resulted in my closing date being delayed by 4 business days. Per Citi, ( taken from Citi webpage ) " On-Time Closing Guarantee - We 'll close on time or give you {$1500.00}! '' with the following restrictions - XXXX " If you are purchasing a home, we guarantee to close by the date specified in your purchase contract, unless prohibited by federal law, * and further provided that the date is at least 30 days after the application date and the date of your purchase contract. If your loan fails to close on time due to a delay by Citibank, you will receive a credit toward closing costs of {$1500.00}. Offer not available for refinance loans, co-ops, unapproved condos, residences under construction, community lending programs and government loans. In Texas, the credit may not result in your receiving cash back. ( *Federal law requires certain disclosures be delivered to the borrower at least 3 business days before consummation. The Guarantee to close does not apply if such disclosures are required and your closing is delayed due to the 3-business-day waiting period. ) '' Loan Application was formally made XX/XX/XXXX, giving approximately 60 days until scheduled closing. 

Home construction was finished Approximately XXXX XXXX, XXXX and I had the final inspection/walkthrough with the builder shortly after. The final inspection scheduled with citi was scheduled with loan officer for XXXX XXXX, XXXX. Due to Citi scheduling issues, the inspection was rescheduled for XXXX XXXX and finally took place on XXXX XXXX, XXXX. 

Citi did not honor on-time closing guarantee stating that house was under construction at time of application. While this is true, that condition is not explicitly stated in Citi 's terms and restrictions. The house was NOT under construction when Citi encountered a scheduling error ( holidays maybe? ) and there for should still be eligible for the on-time closing guarentee per the verbage of Citi 's Terms and Restrictions as they apply to the 'on-time closing guarentee ' The fault for a late closing rests solely with Citi and was in no way influenced by the actions, or lack there of, of myself or the home builder. 
