I Promise You the Lowest Bottom-Line Cost for Your Home Mortgage
You may already know that mortgage companies are not all the same. You could possibly SAVE some money by shopping around.
Mortgage lenders will gladly give you a rate quote, but only for a loan that will close TODAY. However, those mortgage lenders are in no position to close your loan at your quoted rate. Why? Because lenders only make binding commitments on loans after submitting them to underwriting first.
Underwriting before Commitment
The mortgage company’s underwriting department has to approve your loan before giving you a binding commitment. After the lender issues a mortgage commitment, you may close your loan at the quoted rate–assuming the underwriter didn’t make any adjustments! The underwriting process, however, can take anywhere from several days to several weeks. In the meantime, you really don’t have any promise of anything until you have that mortgage commitment in hand.
Remember: Rates and fees a lender quotes you over the phone, text message, or email are not binding! A lender is not committed to ANYTHING until that lender puts your quote in writing on the official Loan Estimate form.
Your objective is to find the lowest-cost loan with no hassles, no games, and no excuses. I have developed a fair and simple way to promise you the best loan at the best price: It’s my Lowest Bottom-Line Cost Promise.
Lowest Bottom-Line Cost Promise
Three Simple Steps to Promise Yourself the Best Loan:
I’ll take your loan application. I’ll give you a signed Loan Estimate form. When your loan is approved, you will also receive a signed commitment letter. Submitting your loan application to me (or to any other mortgage lender) does not obligate you to close a loan with me.
You can shop as many other lenders as you like. If another lender commits to funding your loan at a lower cost, send me that lenders’ signed Commitment Letter and Loan Estimate forms.
I will analyze that lender’s offer. If the offer truly shows a lower bottom-line cost, I will match or beat that lender’s price. If I can’t match the price, ***I will give you a $500 check*** for your time and trouble! Of course, you can still get your loan from the other lender.
My Lowest Bottom-Line Cost Promise gives you a level playing field and promises you the best price. The only thing I ask is that you give me the opportunity to be your HOME team — I get the last “at-bat!”
*Promise will be paid after the time of closing a funded mortgage loan and only upon satisfying the following conditions: 1) Provide Rose Loan with the competitor’s signed Loan Estimate and Mortgage Commitment Approval letter for analysis before making your final decision and before closing your loan. 2) The competitor’s Loan Estimate provided to Rose Loan for condition number “1)” above must be rate locked and dated the same day as the date on the Loan Estimate provided to you by Rose Loan. 3) Provide Rose Loan with a signed copy of your final Closing Disclosure and master settlement statement and contact information for both the originator and lender funding the transaction. 4) The final Closing Disclosure must reflect the same or better terms and closing costs as competitor’s original Loan Estimate provided to Rose Loan for condition number “1)” above. 5) Any document provided to Rose Loan for any purpose may not be redacted or altered in any manner from the original. Note: Lowest Bottom-Line Cost Promise does not apply to commercial, jumbo, ARM, HELOAN or HELOC loan programs. This promise is made exclusively to Rose Loan customers who have submitted to Rose Loan a full and complete loan application consisting of the Uniform Residential Loan Application, the required credit report, and all required supporting documentation per any loan automated underwriting results or as required by loan guidelines. This promise is made exclusively by Rose Loan. This promise is not made in any way by NEXA Mortgage LLC, its employees, any of its affiliates, or any other entity.
