If awarded, the $500 Lakeview Rate Advantage Guarantee (the “Guarantee”) payment will be in the form of an electronic gift card. The Guarantee is based on the Annual Percentage Rate (“APR”) for the loan(s) in question. Program is subject to change without notice. APR is based on the quoted interest rate and APR-related fees (including origination fee, flood certification fee, electronic closing fee, title fees, disbursement fee, and any additional recording service fees).
To be eligible for the Guarantee and begin the process, customer must complete and sign a full loan application with Lakeview Loan Servicing, LLC (“Lakeview”), which may require additional information to provide a Lending Estimate (“LE”).
Customers must also present a valid competitor LE showing their current offer that is dated no more than 5 business days prior to the date that Lakeview receives its signed mortgage loan application documents. Lakeview will match or beat valid competing APRs, which may include loan origination costs, loan discount fees, underwriting fees, processing fees, buy-down fees and lender document preparation service fees, for the same loan product type and loan term. Lakeview will review the competitor LE within 1 business day. Guarantee is only valid if Lakeview is not able to meet or beat a competitor’s valid APR, subject to the terms set forth in this footnote. If Lakeview meets or beats the competitor’s APR and the customer does not close the loan in question with Lakeview, then the Guarantee is inapplicable, and the customer is not eligible to receive a $500 electronic gift card.
Customer initiated changes to the loan, including term, buy-downs, etc. may require a revised LE and this program may not apply.
Lakeview reserves the right to verify the validity of a customer’s competitor LE and competing lender’s disclosures. If Lakeview validates their competing offer and is unable to match or beat the stated APR, Lakeview may determine if the customer is eligible for Lakeview Rate Advantage Guarantee program.
If eligible, customer must submit a claim electronically to rateadvantage@lakeview.com after closing the loan with the competing lender under the same terms as originally presented in the competitor’s LE to Lakeview. Claim must be submitted within 1 month of closing; closing must be within 60 days of Lakeview application date. The claim must include a valid copy of the final Closing Disclosures, Note, mortgage signed by the closing agent, and a copy of the originally submitted competing LE and Lakeview LE as documentation for the claim for the $500 electronic gift card. Once Lakeview confirms the competitor’s closing documents are valid and confirms that the customer’s loan closed with the product and terms previously quoted by the competitor lender and LE, Lakeview will email the customer an electronic gift card for $500 within 30 days of receiving the claim.
Lakeview reserves the right in their sole discretion to modify or discontinue this program or to restrict its availability to any person, at any time, for any or no reason, and without prior notice or liability to the customer.
This is for informational purposes only and is not an offer, loan approval or loan commitment. Mortgage rates are subject to change without notice. Some terms and restrictions may apply to certain loan programs. Refinancing existing loans may result in total finance charges being higher over the life of the loan, reduction in payments may partially reflect a longer loan term. This information is provided as guidance and illustrative purposes only and does not constitute legal or financial advice. We are not liable or bound legally for any answers provided to any user for our process or position on an issue. This information may change from time to time and at any time without notification. All loans are subject to credit approval.
E-gift cards are delivered electronically via www.tremendous.com. Please allow up to 30 business days after claim approval for the Lakeview Rate Advantage Guarantee program to receive the $500 e-gift card. Please notify Lakeview if you haven’t received your e-gift card. This offer is not sponsored or endorsed by www.tremendous.com or its partners.
