Rate Protection For Up to 180 Days: Lock and Shop

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Worried about rising interest rates? It’s no secret that there can be some uncertainty when it comes to mortgage rates, especially in today’s volatile market.

Worry no more! With our rate protection program, Lock & Shop, you can enjoy rate protection for up to 180 days.

What is Lock & Shop?

Typically, you need a purchase contract before you can lock in your interest rate. But with Lock & Shop, you can lock your rate while shopping for your new home! That’s right – no purchase contract is necessary.

Lock & Shop gives you rate security with 45-, 60-, 90-, 120-, 150-, and 180-day rate lock options. This program is ideally suited for homebuyers in competitive markets and those looking to casually search for their next home.

What if rates drop?

A bonus feature of Lock & Shop is your ability to float down given a favorable change in rates. Lock & Shop’s one-time float-down option gives you rate security with rising and falling rates.

What is a mortgage rate lock float down?

A typical rate lock gives you security against an increase in rates during the rate lock period. The float-down option specifically allows you to take advantage of a fall in interest rates during the lock period.

Let’s say you’ve found the rate that’s right for you. We can lock in your interest rate now, while you continue to shop for your dream home. If the market improves and you see interest rates fall, you can float down to the lower rate with our one-time float-down option.

The one-time float-down option gives you protection against higher interest rates while allowing you to take advantage of lower interest rates, should they come available.

Simply put, a float-down option gives you the best of both worlds. It offers you flexibility and security so that you can enjoy a stress-free house shopping experience in today’s ever-changing market.

The bottom line

House shopping can be an exciting time, but rising interest rates can add stress and uncertainty to what should be an enjoyable experience.

Lock & Shop is a perfect solution in today’s volatile market. So go ahead, take your time, and enjoy peace of mind as your search for your dream home.

Let’s get started

Use our free mortgage and amortization calculators to determine your monthly payment, including mortgage insurance, taxes, interest, and more.

To get started with the mortgage loan process, get a free rate quote or fill out our online loan application to get pre-approved!

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