Intelliloan is so confident that our rates and fees are among the most competitive, that our promise is good not only before closing, but up to 30 days after closing!
To be eligible for the benefits of our promise, you need to:
- apply for a loan
- complete and sign our mortgage loan application
- provide credit report authorization
- meet all of the qualifications and requirements for the loan for which you are applying
If, prior to closing, you should find a more competitive offer from another lender, Intelliloan will beat the competitor's offer or pay you $500!
Here’s how it works.
In order to exercise your rights under this promise, you must provide Intelliloan with a complete copy of the competing lender's system generated Locked Loan Estimate and completed Loan Application(1003). These forms must be provided to us prior to the expiration of the Rate Lock and must include the competing lender's name, the date and length of the Rate Lock, and verify that the terms of the loan are for the same program and terms as those quoted by Intelliloan. Upon receipt of these required documents, Intelliloan will verify the accuracy of the Annual Percentage Rate, Fees, loan amount, appraised value and loan-to-value as noted on the Loan Estimate and application.
Once it is confirmed that the competing lender has a valid, unexpired locked Loan Estimate with a lower rate and fee combination, for an identical loan program offered by Intelliloan, then Intelliloan, at its option, will beat the competitor's interest rate by 1/8%, or will beat the lender's fees by 110% of the difference, but not less than $100.00 whichever is greater.
You could get $500 even for not using us!
If Intelliloan chooses not to beat the competitor's offer, Intelliloan will pay you $500! Payment is remitted to the applicant when Intelliloan is presented with the proof that the applicant has closed their home loan with the competing lender by providing a copy of the Note, Appraisal, final executed loan application, and Final Closing Disclosure showing a closing within the Rate Lock period as stated on the original Locked Loan Estimate. Proof must be provided no later than 10 calendar days after closing.
Our promise is good after you close!
If within the first 30 days after closing a loan with Intelliloan, you find that you could receive a lower rate and fee combination from another lender, you may exercise Intelliloan's Low Rate and Fee Promise.
After closing has occurred (up to 30 days after the note date of the loan) you may exercise your rights under this promise by providing Intelliloan with a copy of the competing lender's complete system generated Locked Loan Estimate and completed Loan Application(1003). These forms must include the competing lender's name, the date and length of the rate lock, and verify that the terms of the loan are for the same program and terms as the loan obtained through Intelliloan. Upon receipt of these required documents, Intelliloan will verify the accuracy of the Annual Percentage Rate, Fees, loan amount, appraised value and loan-to-value as noted on the Loan Estimate and application.
Once it is confirmed that the competing lender has provided a lower rate and fee combination, and then Intelliloan, at its option, will refinance the loan closed by Intelliloan and beat the competitor's interest rate by 1/8%, or will pay 110% of the difference between the competitor's fees and those of Intelliloan up to $500. Such payment of excess fees will occur after the applicant has made 7 payments on the loan obtained through Intelliloan.
A few final words about our promise.
Fee comparisons for this offer will not include interim interest or funds designated to be set up as an impound (escrow) account. Title insurance and escrow fees will not be included in the comparison for purchase transactions. All other fees will be part of the comparison.
This Low Rate and Fees offer is valid for 1st mortgage loans only within conforming loan limits. Loans must be secured by primary residences located in the states in which Intelliloan is currently licensed. Rental properties and second homes are excluded.
This low rate and fees offer expires December 31, 2017 and may be withdrawn at any time at the sole discretion of Intelliloan. This offer does not apply to advance fee rate locks. The exercise of only one Low Rate and Fee promise is allowed per transaction.
Intelliloan's promise should not be construed as a guarantee or warranty that Intelliloan offers the most competitive rate or fees in the marketplace.