Loyalty
Loyalty is more than just a word to ClearPath Lending. It’s a passion. And it’s the guiding principle behind the ClearPath Lending foundation. The team at ClearPath Lending would like to take the opportunity to explain the many benefits you can expect as a client of the Loyalty Program. You will have full access to the same trusted individuals who helped you with your original transaction. During the servicing of your loan, we will monitor the market rates on your behalf to make sure that you are not paying more for your home than you should. Once a lower rate is available to you, we will contact you and notify you. The best part is you don’t have to provide any documentation to initiate the process.
We believe in maintaining long-term relationships and we understand that you have the option to work with many other lenders. For this reason, our Loyalty Department helps ensure that you benefit by offering rates that lower your payment with terms that make sense for you. In return, we benefit from being able to retain your business. This program is not only intended to help protect your financial interests, but to make your overall experience easy and enjoyable.
ClearPath Lending provides you with a beneficial loan program.
You will be automatically enrolled in the Loyalty Program once your first loan funds with ClearPath Lending. To become eligible, you must make a minimum of 6-9 payments on the new loan.
1st payment is made towards your mortgage.
The enrollment of the Loyalty Program continues and you will be provided with monthly updates from the Loyalty Department.
2nd payment is made towards your mortgage.
The Loyalty Department prepares for the analysis of your loan to explore your new options.
3rd payment is made towards your mortgage.
Once a lower rate is available, we will contact and notify you. However, you may contact the Loyalty Department at any time for an update.
We will start the Loyalty Program process.
Eligibility for the Loyalty Program officially begins. You can expect to sign your final loan documents in the presence of a notary on the first available signing date.
You accept new terms of your mortgage program provided by the Loyalty Department and ensure additional savings.
You are once again enlisted into the Loyalty Program.
Benefits of the Loyalty Program
We want you to always get the most out of everything you do with us, that is why there are so many options and benefits that may be available to you once enrolled into our Loyalty Program:
Lower your current interest rate and move into something a little more comfortable.
Lower your current monthly payment and possibly save thousands.
Potentially defer up to 2 months of your mortgage payments.
Options to keep your loan term exactly where it currently is.
No underwriting or processing fees added to the principal balance.
We will monitor interest rates on your behalf.
Work with the same trusted experts that helped you with your original loan.
No additional documentation needed as we already have most documents on file.
Potentially close your loyalty loan in as little as 14 days.
FAQS
What does the Loyalty Loan Program mean for me?
The Loyalty Loan Program means that you will never have to call about another advertisement you receive in the mail or wonder if you qualify for a lower rate in the future. We do the work for you! We will monitor your interest rate during the servicing of your loan and, should market conditions improve, we will gladly offer you a lower rate with a lower payment.
This sounds too good to be true. Why does ClearPath Lending offer the Loyalty Program?
It’s quite simple. If rates go down after we close your loan, we understand that you may look to refinance elsewhere and possibly lower your rate. For that reason, we make sure to contact you before you contact someone else. The main objective of the Loyalty Program is to keep our relationship with you and help you with all your future mortgage-related needs. The last thing we want is to lose your valuable business to a competitor. That is why we put together one of the most comprehensive and desired mortgage loan programs in the industry. We call it the Loyalty Loan Program.
How long do I have to wait before my eligibility for the Loyalty Program begins?
Typically, you have to make at least 3 payments on time with the servicer of your loan. However, there are times when you must make 6 payments, depending on the loan program you are currently enrolled in.
Can I call the Loyalty Department at ClearPath Lending to see if I qualify for a rate reduction?
You can absolutely call us to see if you are eligible for rate reduction under the Loyalty Program. Please reference your eligibility number which can be found on your loyalty certificate provided in your kit when calling us at 1-800-LOYALTY (569-2589). You can also email Loyalty@clearpathlending.com for any inquiries. Once again, please be sure to reference your eligibility number if you choose email over phone contact.
My current servicer offered me a lower rate with no costs. Is this the same offer as the Loyalty Program?
It is important to note that any offer you receive from your current servicer is from their retail department, which we have no affiliation with. The offer you receive from them is not part of our Loyalty Program and in some cases, the terms of their offer may be less favorable than our Loyalty Program offer.
ClearPath Lending transferred the servicing of my loan to another lender, does this mean that I am no longer eligible for the Loyalty Program?
ClearPath Lending currently does not service loans. Regardless of who we transfer the servicing of your loan to, your eligibility for the Loyalty Program will stay intact with ClearPath Lending.
Are there any costs with the Loyalty Program?
No, there are no costs associated with the Loyalty Program. However, in some cases, you may be eligible for multiple refinance options. A no discount point option will always be available. Other options with even lower interest rates may also be available, but discount points or other costs may apply.
Is my eligibility under the Loyalty Program a one-time usage?
No, when you closed your first loan with ClearPath Lending, you were automatically enrolled in the Loyalty Program. However, each time you refinance your mortgage through the Loyalty Program, you will have to complete a minimum of 3-6 payments on the new mortgage, depending on the loan type, for your eligibility to begin once again.