Have your LVR loan officer circle both the offered rate and the origination charges on the competitor's locked loan estimate.
At this point, a member of the LVR management team reviews the documents and they will either make a counteroffer with a lower APR or they will tell you we can't beat it by filling out and giving you our $250 Low APR Guarantee form.
If for some reason we are unable to beat a competitors rate, all you need to do is close and fund your loan with the competitor and return the signed Low APR Guarantee form, along with the final closing disclosure and mortgage note, within 10 days of the lock expiration.
This is not a commitment to lend. All loans are subject to credit and property approval. This offer is non-transferable and may not be combined with any other offers. Rates and terms are subject to change without notice. We will not give $250 if we can provide a lower APR.
*if your competitor “locked” loan estimate is older than 3 days, we still are confident we can beat it most of the time, and shopping and pitting lenders against each other works! In order to get the $250 however, we must be comparing apples to apples and in this quickly rising interest rate market, we need to compare our rates within 3 business days.