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The Beeline Price Pact.

The average cost to process a home loan is $8000*. That’s bananas!

The industry average cost to process a home loan is around $8000*. That’s bananas!
What are all those people actually doing?

When a lender’s costs are high, they have to cover it with high closing costs and high rates. Ugh.

We’re a little different — our rates are low because our costs are low. Here’s why:

  • We’ve removed pointless steps. And automated others.
  • We’re direct. No commissions to marketing middlemen.
  • No origination fees. We don’t charge them.

Look, we’re pretty confident our rates are among the lowest but it’s not totally impossible you could find lower.

So if you do…we’ll beat it by 1 basis point.
If you find lower closing costs, we’ll match those too.

So that's the Beeline Price Pact. Sound good?

Good grief I think I’ve found a cheaper rate. What do I do?

So if you think another lender has a lower price:

  • Contact your Loan Guide and send them the non-Beeline Loan Estimate (no more than 3 days old).
  • We’ll promptly review it.
  • Then, if the non-Beeline one is cheaper fair and square, we’ll offer a Beeline loan at that rate, less 1 basis point.
  • Plus, you’ll get all the other benefits of working with us.

Oh, and you can access our price pact right up until you confirm your loan with us.

The average cost to process a home loan is $8000*. That’s bananas!

Good grief I think I’ve found a cheaper rate. What do I do?

So if you think another lender has a lower price:

  • Contact your Loan Guide and send them the non-Beeline Loan Estimate (no more than 3 days old).
  • We’ll promptly review it.
  • Then, if the non-Beeline one is cheaper fair and square, we’ll offer a Beeline loan at that rate, less 1 basis point.
  • Plus, you’ll get all the other benefits of working with us.

Oh, and you can access our price pact right up until you confirm your loan with us.

Terms and conditions

What do you need to provide, and when?

The time frames that matter.
A Loan Estimate (LE) from the competing lender must be dated and received within 3 calendar days of the date on the Beeline LE. Other documentation to show the competitor’s terms won’t qualify for the offer. Make sure the lender information on the LE is completed, otherwise we can’t accept it.

Naturally, we’d like the chance to verify that the competitor’s LE is valid and will do that if required.

If your Beeline loan doesn’t close within the rate lock period, the Beeline Price Pact may be voided. Just FYI, your rate lock period will be shown on your Beeline LE.

Making sure we’re comparing apples with apples, not apples with bulldogs.
The terms of the competing loan must be identical to the one you want with us. This means the loan must have the same applicants, loan amount, property value, property address, loan type, rate lock period, amortization, documentation type, occupancy, and property type. For example, a 30-year fixed-rate product with mortgage insurance is not identical to a 30-year fixed-rate product that does not have mortgage insurance.

What else?

Due to COVID-19, we are not able to offer the Beeline Price Pact on (i) loan amounts greater than $500,000 or (ii) cash out refinances. Once the market stabilizes for these scenarios, we plan to add them back into the Beeline Price Pact. The Beeline Price Pact is not valid if the original loan terms or conditions change prior to closing.

The amounts on our upfront LE may vary slightly from the closing disclosure, which you’ll get after the LE.

The Beeline Price Pact is available for purchase and refinance on a first home loan, so it can’t be a second lien.

The Beeline Price Pact is only valid in states where we’re currently originating loans. The terms and conditions of this offer may change without notice, including termination of the program.

If you want to use the Beeline Price Pact to refinance a loan we’ve originated, you’ll have to wait 6 months from the funding date. Nice try, though.

The Beeline Price Pact can’t be used if you’ve locked a rate with us in the previous 60 days.

Beeline's price pact is only valid once per loan.

The Beeline Price Pact doesn’t guarantee loan approval, nor is it an offer or commitment to lend. A final loan decision cannot be made until a complete home loan application and supporting documentation is received and verified. Loan approval is also subject to standard underwriting guidelines, investor conditions and receipt of a satisfactory appraisal and title report.