Find a better mortgage and closing cost deal, we’ll
pay you $1000*
Lowest Mortgage Rate
In July 2009, we compared the 30-year fixed mortgage rate available to Sawbuck customers
with the national average rate as reported in the Freddie Mac Primary Mortgage Market
Survey, the most reliable indicator of mortgage rates in the country.** The average
Sawbuck rate was .325% better. On a $400,000 mortgage, that’s a savings of $80 per
month and $28,659 over the life of the loan.
Lowest Closing Costs
We also looked at typical closing costs paid by Sawbuck customers and compared them
to average closing costs detailed in the 2008 Bankrate Closing Costs Study. Typical closing costs
paid by Sawbuck customers were often thousands of dollars better.
Take a look at our calculator and see just how valuable having the lowest rate and
lowest closing costs can be.
Sawbuck Savings Calculator***
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So How Does Sawbuck Do It?
- We only partner with industry leaders, such as Bank of America and First American,
already known for their low rates and quality service
- We NEVER ask our mortgage and settlement partners to share profits with us. This
is unlike most real estate brokers who try to profit from their customers’ mortgages
and settlements, which drives up rates and costs
- We pre-negotiate reduced fees for our customers
- We subsidize every deal, putting our money into the pot at closing
- The result is an unbeatable combination of mortgage rate and closing costs—guaranteed.
How Can You Take Advantage of the Sawbuck Savings Guarantee?
The Sawbuck Savings Guarantee is only available to Sawbuck customers. A Sawbuck
customer is someone who buys a home using a Sawbuck real estate agent partner. A
Sawbuck Advisor must initially connect you with the agent in order for you to be
eligible. Contact a Sawbuck Advisor
*Sawbuck Mortgage and Closing Cost Guarantee program is offered
only to customers working with a Sawbuck real estate agent partner. Under the program,
if the customer finds a better combination of mortgage rate, points and closing
costs than is being offered by Sawbuck’s recommended lender and settlement providers,
which may also include a subsidy from Sawbuck Realty, then the customer will receive
$1000 from Sawbuck after closing. To be eligible, the competing loan product and
terms must be identical and the rate must be locked on the same day the customer
receives a quote from Sawbuck’s mortgage partner. The customer must supply a Good
Faith Estimate (GFE) from the competing lender plus the HUD-1 settlement statement
and final mortgage note to receive the $1000. Please note that this guarantee is
from Sawbuck Realty and not from its mortgage and settlement partners; also, this
guarantee is only available where allowed by law.
**The Freddie Mac national average rate reported on 7/9/09 was 5.20% with .7 origination fees and
points, based on a national survey of rates during the period of July 6-8, 2009.
Using similar methodology,
the average rate available to Sawbuck customers through its recommended lender during
this same period was 4.875% with .65 points.
***“Sawbuck Savings” is a term used to reflect an estimate of savings consumers may
achieve by working with Sawbuck. Estimated savings amounts are arrived at by comparing
interest rates and closing costs available to Sawbuck customers with interest rates
and closing costs seen in the general marketplace. Actual savings, if any, may be
more or less than the figures represented.