- As part of the Beat Your Rate program offered by LendingTree, NBKC Bank (“NBKC”) will beat any competitor APR for qualifying Loan Estimates or Loan Proposals by a minimum of 10 basis points. If NBKC cannot meet these terms and the consumer qualifies for this offer, LendingTree will send the consumer a $250 gift card upon completing the Redemption Process outlined below. To qualify, the competing Loan Estimate or Loan Proposal must be for the same loan terms (including but not limited to: loan program, loan amount, loan-to-value, property type, property use/occupancy).
- For NBKC to provide a Beat Your Rate Loan Estimate, the consumer must complete a mortgage application with NBKC and consent to a credit inquiry within one business day from the date the competitor’s Loan Estimate or Loan Proposal was issued and have a close date that is 30 or more days away. Completing a mortgage application with NBKC may impact your credit score.
- A loan proposal, if provided in lieu of a loan estimate, must:
- Be presented on the mortgage company’s official letterhead or in an email from the mortgage company. If provided via email, the complete email address of the mortgage company must be prominently displayed.
- Clearly show the date the mortgage company sent the Loan Proposal
- Include the following information:
- Property Location: The zip code and city, state of the ome that will be the subject of the mortgage application
- Applicant Name(s): The full legal name of each applicant
- Loan Term: The duration of the loan, specifying the number of years or months.
- Purpose of Loan: A clear indication of the intended use of the loan funds. For example, it should state whether the loan is for a purchase, refinance, or other specific purpose.
- Loan Type: The specific type of loan being proposed, such as FHA, VA, Conventional, or any other applicable loan program.
- Loan Amount: The total amount of money being requested as a loan.
- Interest Rate: The rate at which interest will be charged on the loan amount.
- APR (Annual Percentage Rate): The annualized cost of borrowing, including both the interest rate and any additional fees or charges.
- Origination Charges: Any fees or charges associated with the loan origination process.
- Upon receipt of a loan estimate or loan proposal, NBKC will validate the sufficiency of the provided documents prior to providing a Beat Your Rate Loan Estimate.
- Consumers cannot have had a rate lock with NBKC in the sixty (60) days prior to the date of the presented Loan Estimate from another lender.
- LendingTree Beat Your Rate offer is only valid in states where NBKC is legally authorized to originate loans and for loan types originated by NBKC, including conventional loans. NBKC does not originate FHA or VA home loans.
- LendingTree Beat Your Rate offer is not available if the competing Loan Estimate or Loan Proposal is submitted from a lender with a rate that is not publicly available (e.g., the offer requires a minimum amount of assets under management or other relationship requirements). It is also not available for Loan Estimates or Loan Proposals from credit unions or lenders, which include incentives from home builders.
- Redemption Process: To claim the $250 Gift Card, the consumer must (1) fund their loan with the lender that provided the competing Loan Estimate or Loan Proposal and at the same terms (including but not limited to: loan program, loan amount, loan-to-value, property type, property use/occupancy) presented to NBKC to initiate this promotion and (2) present the Closing Disclosure and final Promissory Note from the funded loan within thirty (30) days of closing.To initiate the claim, the customer should email [email protected] and include all required documents, a contact phone number, and their mailing address.Additionally, customers may call 800.761.2196 to request a mailing address for submitting the required documents and information.Once LendingTree has received and performed a satisfactory review of all necessary documentation, the Gift Card will be sent to the email address provided by the consumer within 30 days.
- LendingTree Beat Your Rate offer cannot be combined with any other promotion.
- To be eligible, consumers must present the competing Loan Estimate to an NBKC Loan officer by 6/30/24. Loans closed with a competing lender must be funded within 90 days to be eligible for redemption.