1. Rate Match is not a commitment to lend. Applicants must meet all requirements and guidelines of Embed Inc. d/b/a Pylon, Pylon Lending (“Pylon”) loan products to be eligible for Rate Match.
2. To obtain a Rate Match, applicants must provide genuine documentation of a formal loan estimate from another lender. Pylon may, in its sole discretion, accept proxy documents for a loan estimate.
3. Rate Match documentation must (1) contain information demonstrating the competitor’s loan offer is for the same applicant applying for a Pylon loan, (2) include proof the applicant’s credit was verified, (3) not be contingent on any other transaction or relationship, (4) include terms identical to the Pylon loan estimate, including loan term, loan amount, and identical or substantially similar appraised property value (if applicable), and (5) be dated within 3 business days prior to the day it is submitted to Pylon.
4. We reserve the right to decline a Rate Match in the event the applicant had already locked in a rate within 90 days prior to the date the applicant presented a loan estimate from another lender.
5. Rate Match refers to matching the total cost of the loan, including closing costs and interest rate, excluding property taxes and insurance.
6. Any rate that is lowered due to the payment of loan percentages, or “points” may be excluded from Rate Match.
7. Offer is only valid in states where Pylon is currently originating loans.
8. Amounts on the loan estimate may still vary from the closing disclosure within regulatory tolerances under the Truth In Lending Act, or other laws, based on findings in underwriting. All loans are subject to credit and full underwriting approval. Loan terms may change where allowable by law.
9. Offer cannot be combined with any other promotion.
10. We reserve the right to decline a Rate Match for rates not publicly available.
11. Applicants may only take advantage of this offer once per loan closed and financed by Pylon.
12. The value of a Rate Match might be applied in the form of matching the interest rate, origination fees or a lender credit at closing, per Pylon’s exclusive determination.
13. These Rate Match Terms & Conditions may change in accordance with federal law, state law, or investor restrictions.
14. Pylon reserves the right to rescind or modify the terms of this offer without prior notice.