Lowest Price Guarantee - Price includes the total cost for rate, lender fees, loan fees, third party fees and recording costs. Competitor must be a fully licensed residential mortgage lender that is qualified to do business in the issue US state (“Qualified Mortgage Lender”).
This price match is only for residential mortgage purchase and refinance transactions. Loans must be of similar product types, term and purpose. The customer must provide Superior Mortgage Corp. with a computer generated Good Faith Estimate (GFE) from a Qualified Mortgage Lender. The GFE must be dated the same day as the price given to the customer by Superior Mortgage Corp. If the price stated on the Qualified Mortgage Lender's GFE (for the same loan program applied for at Superior Mortgage) is lower than the price offered by Superior, Superior, at its sole discretion, will either (a) close the loan on the terms set forth on the competitor's GFE or (b) pay the customer $500, following the closing and funding of the loan with the competitor. With respect to (b), customer must provide Superior Mortgage Corp. with a fully executed HUD-1 Settlement Statement. For purposes of determining between (a) and (b), Superior Mortgage Corp. shall be afforded 72 hours to state its decision to customer.For purposes of this price match, there is only one customer per loan.
Each customer is eligible for one price match within any six month period. This program cannot be combined with any other program and is subject to state and federal law restrictions.All loans are subject to final approval by Superior Mortgage Corp. underwriting.