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National lender Filo Mortgage is guaranteeing its low mortgage pricing by offering to beat competitors’ pricing by $1,000, according to a press release.
The Filo Mortgage Low-Rate Guarantee will credit the customer $1,000 upon closing with Filo, if another lender is offering a more competitive price for the same product. The company states that its mission with the new guarantee is to get consumers the lowest mortgage rate with no origination fees.
“Consumers can be confident at the outset that Filo is hyper-focused on getting them a mortgage that saves them money – with a rate-and-fee combination that is the best they can find,” said Filo Mortgage founder and co-CEO Jeffrey Frutkin said. “However, if a borrower does find a mortgage with a lower total lender cost of rate, points and fees for the same mortgage program, Filo will match that pricing and credit the customer $1,000 when closing with Filo.”
The guarantee applies to both purchase and refinance loans.