Meet or Beat Policy

Patriot Bank strives to offer our customers competitive mortgage rates and fees. In order to remain competitive within our markets we offer a “meet or beat guarantee”. If a customer is able to find a better rate for a home purchase or refinance, we will attempt to match or beat a competitor’s offer. This could be with a lower interest rate or fees. If the bank is unable to provide a better offer, then we will provide the customer $250 after they close with a competing lender based on the following terms and conditions.

Requesting An Offer To Meet or Beat 

  • Customer must provide competitor’s Loan Estimate with all material information including lender’s full name, address and phone number along with a complete breakdown of the charges, fees and rate associated with the offer within 3 days of requesting the bank match or beat an offer.
  • Patriot Bank will have 3 days to provide an equal or better offer as determined by the bank’s review of competitor’s offer. This could include offer a lower rate, fees or improved overall APR.
  • Competitor’s verbal offers, websites or other documentation used to show rates and terms will not qualify for offer. Only a valid Loan Estimate will be considered.
  • All terms and conditions of the competing loan must be identical to Patriot Bank’s loan. 

Product Eligibility

  • This offer only applies to the following loan programs: FHA, VA, USDA and conventional mortgages offered through Patriot Bank’s mortgage department. 
  • The following loan programs do not qualify:
    • Any type of in-house financing or portfolio loan program provided by Patriot Bank.
    • Investment properties, two-to-four family units, home equity loan programs, and second mortgage programs.
    • Loans secured by co-operatives.
    • Loans involving a Consolidation Extension Modification Agreement or other types of modifications/assumptions.
    • Loans to employees of competing lenders and/or affiliates of competing lenders.
    • Loans subject to special incentives or credits due to employee relocation programs or similar employee programs.
    • Loans subject to special federal or state program, including, but not limited to, the Making Home Affordable Program and Home Affordable Refinance Program.

If We Are Unable to Match or Beat

  • Customer must mail a claim request in writing to: Patriot Bank Mortgage, Attention: EVP of Lending, 8370 Hwy 51 N, Ste 107, Millington, TN 38053 within 30 days of closing with competitor.
  • The following documents must be included in your claim request:
    • A fully executed copy of the initial Loan Estimate disclosure from the competing lender.
    • A fully executed copy of the Closing Disclosure signed by the closing agent and all parties to the transaction.
  • Patriot Bank will review and notify customer within 60 days if all terms and conditions are satisfied. If satisfied, the bank will mail a check for $250 to the customer.

Other Terms and Conditions

  • Offer not valid if original loan terms or conditions change prior to closing. 
  • Recipient is solely responsible for any personal tax liability arising out of this incentive.
  • This offer of guarantee may be withdrawn at any time without notice. Claims in process at the time of withdrawal, will however, be processed.
  • All communications relating to the claim and requests to beat a competitor’s offer must be in writing.
  • We will make all determinations and decisions as to eligibility and qualification for payment of this guarantee. All Patriot Bank decisions are final.