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We pride ourselves on providing our customers with the
lowest rate as possible. We will Guarantee to beat your
Commercial Mortgage Broker’s deal or we will pay you
$1,000.00! Does your broker
offer that?
Submit a competing offer from a
Mortgage Broker in the form of a Good Faith Estimate
dated within 10 days of the date that you present the
competing offer to Eagle Commercial Loans. The offer must show
the loan amount, interest rate, margin, caps, term,
origination and discount points, and all Lender, Broker
and third party fees.
Apply for the identical
loan with Eagle Commercial Loans. Eagle Commercial Loans will run your
credit report, pre-qualify your application and make an
offer to you. If we beat the Broker’s offer (and we
will), you must lock your rate with Eagle Commercial
Loans and
put your application into process. If we can’t beat
their deal, close your loan with your Mortgage Broker.
Submit a copy of the Hud-1 Settlement Statement and the
note to us. If you closed according to the terms quoted
in the competing offer, we will send a check to you for
$1,00.00 within 7 days.
Terms and
Conditions
1. The competing offer must come from
a Licensed Mortgage Finance Lender or Licensed Mortgage
Broker.
2. The competing offer must be dated within
ten days of the date of submission to Eagle Commercial
Loans.
3. Only one competing offer per applicant.
4. The
competing offer must be on a first mortgage loan product
offered by Eagle Commercial Loans on the date of submission.
5. If you close your loan with the Mortgage Broker, your
loan application must close within 21 days of submitting
the qualifying offer to Eagle Mortgage. The terms of the
transaction must be identical to the terms submitted to
Eagle Commercial Loans as the competing offer.
6. Your application with Eagle Commercial Loans is subject
to income and employment verification, a satisfactory
title report, appraisal and Underwriting approval. The
appraised value must be the same or higher than the
value estimated provided on the loan application.
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