Low Rate Guarantee Program

 

In order to assure our customers that the rates and fees that we offer to them are always competitive, we have instituted the Low Rate Guarantee Program.  In order to maintain our competitive edge with our competition, it is our policy to review this program with customers in person only – not over the phone.  We institute the program only after our customer has been pre-qualified in person in order to eliminate any possible misunderstandings.

 

1. If our customer is shopping, we will DO OUR BEST to equal or beat verifiable quotes from other sources.  This includes rates, fees and closing costs – all of which will be put in writing in a personal consultation.  We do this in person only.  We reserve the right to complete such negotiations only when the borrower is ready to go forward and commit to what they are negotiating with us to obtain.
2. If our customer wants to establish a relationship in order to begin shopping for a home or for a future loan, we can meet to compare our programs and costs.  We can than settle on a broker mark-up which we will guarantee will not go up while our client is shopping on a home or waiting to obtain financing.  This will allow our client to rest assured that they will have access to all of the programs we offer at the fee structure that we negotiate – eliminating the need for constant comparison shopping.  In some cases, we may require the borrower to sign a “listing agreement”, which will insure that our fee will be paid as long as we can offer a certain loan at a certain price.  This is the borrower’s guarantee that they will not use our program and information services as leverage to negotiate with other lenders.
3. Interest rates are subject to change.  All loan programs offered, even when the interest rate is “locked”, are subject to underwriting guidelines, formal verifications of borrower circumstances, acceptable property appraisals, acceptable title reports and final auditing procedures before funding.  Future guarantees can only be based on a specifically agreed upon mark-up over wholesale costs on programs available to us at that time.  We can only guarantee our fees and not what programs, fees or guidelines will be available to us in the future.  We will not guarantee to beat any non-specific future offer – only that we will try to do so based on programs available to us at that time.