LeaderOne Financial: Lowest Rate Guarantee

How our guarantee works

Step 1: Apply with LeaderOne Financial for a first mortgage loan to purchase or refinance a residence. As long as your interest rate is not locked with LeaderOne Financial, you are eligible for the 1-2-3 cost guarantee.

Step 2: Once you have applied with LeaderOne Financial, you are eligible. You may then present us with a timely offer from a competing lender. This offer must be for the same loan product as the loan for which you applied with LeaderOne Financial, and the combination of points/rebate and lender/broker fees must be lower than those for the same rate offered by LeaderOne Financial. We must receive the competing offer by 3PM Eastern Time, so we have a chance to match or beat the competing offer that same day. (Sorry we have to put such a tight time table on you, but, obviously in today’s world the markets are more volatile than ever and we do have to make sure that we’re comparing apples to apples so to speak.)

Step 3: On the same day we receive the competing offer, we will let you know if LeaderOne Financial will match or beat the competing offer. If LeaderOne Financial does match or beat the offer, you must lock your interest rate with LeaderOne Financial that day. If LeaderOne Financial is unable to match or beat the offer and you close your loan with the competing lender according to the terms of their offer, we'll give you $1000 once LeaderOne Financial confirms those terms via a copy of the note and HUD closing statement.

LeaderOne Financial Lowest Rate Guarantee: Program Rules

Applicants who have already locked their rate with LeaderOne Financial are not eligible for the $1000 payment.
Our 1-2-3 Cost Guarantee only applies to fixed-rate, first mortgage loans for the purchase or refinance of a 1- to 4-unit dwelling.

Relocation customers are not eligible for the 1-2-3 Cost Guarantee.

Competing offers must be:

in the form of a good faith estimate or a letter from a competing lender (on the lender's letterhead) confirming the rate and terms of a similar loan, dated the same day you present the competing offer to LeaderOne Financial. The good faith estimate or letter must show the interest rate, discount points or rebate, and all origination fees and other lender and/or broker fees;
for the same loan program for which you have been approved by LeaderOne Financial;
for the same interest rate as the loan for which you have been approved by LeaderOne Financial.

You must be prepared to lock your interest rate with LeaderOne Financial if LeaderOne Financial chooses to match the competing offer.

Third-party and government fees and costs will not be considered in comparing competing offers.

Only one competing offer may be presented per eligible application.

Once you close your loan with the competing lender, you must provide LeaderOne Financial with a final HUD1 Settlement Statement and copy of the Promissory Note as proof that you closed according to the terms quoted in the competing offer.

The guarantee does not apply to second lien products.

The guarantee only applies to properties within LeaderOne Financial’s licensed lending states. In order to receive the $1000.00 you must mail LeaderOne Financial a certified copy of the HUD-1 or HUD-1A Settlement Statement, final Truth in Lending Disclosure Statement (or accurate Initial Truth in Lending Disclosure if no final Disclosure is required by law) and the executed Note within 15 calendar days of closing your loan with the other lender. LeaderOne Financial will mail you a $1000check within 30 calendar days of receiving the required documentation. The HUD-1 or HUD-1a settlement Statement, final Truth in Lending Disclosure Statement and the executed Note must be accurate and disclose that the loan closed on the terms and conditions, including rate lock expiration period, as previously disclosed in the Good Faith Estimate and proof of product similarity. LeaderOne Financial, in its sole discretion, will make all determinations of eligibility and qualification for payment of this Guarantee. The Guarantee is subject to revision or revocation by LeaderOne Financial at any time without notice. LeaderOne Financial is not responsible for system failures, communication problems or connection and server problems, natural or man-made, failed, incomplete or delayed transmissions, technical malfunctions of telephone networks, computer equipment, system or software, computer time and date stamp mechanism, or any combination thereof, or other unforeseeable events beyond the control of LeaderOne Financial.