If you receive a better written mortgage offer from another lender, send us the official Loan Estimate. We will complete an apples-to-apples comparison and, when the offer qualifies, we will aim to beat the competing interest rate by at least 0.125%.
How It Works.
- Send us a complete, current Loan Estimate from another licensed mortgage lender.
- We compare the loan program, interest rate, APR, discount points, lender credits, fees, lock period and other material terms.
- If the competing offer qualifies and matching pricing is available, we will work to beat the interest rate by at least 0.125%.
- You receive a clear comparison so you can make an informed decision without guessing which offer is truly better.
Why an Apples-to-Apples Comparison Matters.
A lower advertised rate does not always mean a better mortgage. One offer may have:
- Higher discount points
- Additional lender or origination fees
- A shorter rate-lock period
- Fewer lender credits
- Different mortgage insurance
- A different loan program or loan term
- Different assumptions about credit, occupancy, property type or down payment
We look beyond the headline rate and compare the complete cost and structure of each loan. Sometimes that comparison shows the other offer really is better. When it does, we will tell you.
Rate Match Guarantee Terms.
The competing offer must be documented by a complete and valid Loan Estimate issued by a licensed mortgage lender for the same borrower and substantially the same transaction.
The comparison must generally involve the same:
- Loan program and term
- Loan amount
- Property and occupancy type
- Down payment and loan-to-value
- Credit profile
- Rate-lock period
- Discount points
- Lender credits
- Mortgage-insurance structure
- Closing timeline
- Transaction type
The competing Loan Estimate must be current, available to the borrower and capable of being locked or honored by the competing lender.
The guarantee is subject to current wholesale-lender pricing, program eligibility, rate availability and underwriting requirements. Certain portfolio, builder, bank-employee, relationship-pricing, credit-union, bond, down-payment-assistance, nonprofit, employer-sponsored or otherwise restricted offers may not qualify.
Hero Mortgage Group is not required to match an offer that contains materially different terms, undisclosed conditions, unavailable pricing, excessive discount points or pricing that cannot be independently validated.
Interest rates and pricing can change without notice and are not guaranteed until locked. All loans are subject to application, documentation, underwriting and final approval.