Our extended rate lock program provides our customers the agency in securing their mortgage rates for an extended period of time. By locking your rate, you can save up to hundreds of dollars per month in interest expenses. This gives you the ability to plan ahead and make sure you have enough budget for other essential things during unpredictable economic times.
Table Of Content:
- What Is An Extended Rate Lock? | First Heritage Mortgage
- Extended Rate Lock for New Home Construction Loans | Fidelity Bank
- Rate Lock Information | Wells Fargo
- Extended Rate Lock - MortgageMark.com
- Extended Rate Lock Program | Banner Bank
- 9 Mortgage Rate Lock Questions Answered | Bankrate
- Extended Rate Lock & Spec Lock | Homebridge Financial Services
- How Long Can You Lock In A Mortgage Rate? | Rate Lock Guide
- Extended Rate Protection - George Mason Mortgage
- extended locks & float downs now offered
1. What Is An Extended Rate Lock? | First Heritage Mortgage
https://fhmtg.com/2022/02/24/what-is-an-extended-rate-lock/
Feb 24, 2022 ... The term extended rate lock simply means that you're locking in the interest rate on your loan beyond the standard period your lender offers. At ...
2. Extended Rate Lock for New Home Construction Loans | Fidelity Bank
https://www.fidelitybank.com/resources/knowledge-center/extended-rate-lock-for-building-a-new-home/
Dec 5, 2018 ... What you shouldn't have to spend time worrying about is rising interest rates. With Fidelity Bank's Extended Rate Lock program, ...
3. Rate Lock Information | Wells Fargo
https://www.wellsfargo.com/mortgage/learning/rate-lock/
We will extend your rate lock at no cost to you. ... Even if your rate is locked, it can still go up or down if there are changes to your application, ...
4. Extended Rate Lock - MortgageMark.com
https://mortgagemark.com/home-loan-process/mortgage-loan-process/mortgage-rate-lock/extended-rate-lock/
Think of extended locks as an insurance policy. Doing an extended rate lock means you up a “cap” on your interest rate. This means that the rate is protected in ...
5. Extended Rate Lock Program | Banner Bank
https://www.bannerbank.com/personal/loans/home-loans/extended-rate-lock-program
Extended Rate Lock Program features: · Rates locked 120 - 270 days in advance · Option to float down to market price 30 days prior to close · Use with Fixed-rate ...
6. 9 Mortgage Rate Lock Questions Answered | Bankrate
https://www.bankrate.com/mortgages/what-is-mortgage-rate-lock/
Oct 19, 2021 ... If your lender won't extend the rate lock, the combination of rate and points you had expected might no longer be available. In that event, the ...
7. Extended Rate Lock & Spec Lock | Homebridge Financial Services
https://www.homebridge.com/builder-program/extended-rate-lock-spec-lock/
With Homebridge's extended rate lock program, your buyers can lock in their rate up to 360 days while their home is being built. Give your buyers the confidence ...
8. How Long Can You Lock In A Mortgage Rate? | Rate Lock Guide
https://themortgagereports.com/18838/mortgage-rate-lock-long-term-new-construction-gina-pogol
8 days ago ... The longer you lock your interest rate, the more chance there is that rates will rise before your loan closes. So when you have an extended rate ...
9. Extended Rate Protection - George Mason Mortgage
https://www.gmmllc.com/loan-options/extended-rate-protection/
The Extended Rate Protection pricing will vary based upon the length of lock. A deposit is required at application. Up to 180 day lock deposit is refundable and ...
10. extended locks & float downs now offered
https://help.fairwaywholesalelending.com/client-announcements/extended-locks-float-downs-now-offered
Apr 21, 2022 ... The Extended Lock Program is offered under the Fannie Mae, Freddie Mac, and Ginnie Mae direct products for new construction loans only. It ...
What is an extended rate lock program?
An extended rate lock program allows mortgage borrowers to lock in their loan's interest rates for a duration longer than the standard 30-day window. This offers more security and ensures that your mortgage payments will stay consistent despite fluctuations in market rates.
How much money can I save by locking my rate?
Depending on current market rates, locking in your rate could save you up to hundreds of dollars per month in interest expenses over the extended period of time that your loan is locked in at the same rate.
How long does an extended rate lock last?
The length of time for which a borrower can lock their interest rates depends on the lender’s eligibility criteria but typically ranges from 60 days up to one year or more.
Are there any additional fees associated with this program?
No, there are no additional fees associated with our extended rate lock program. However, if you decide to cancel or modify your loan after committing to a locked-in rate, you may be subject to early termination fees from the lender.
Is this program available at all times?
Yes, our extended rate lock program is available throughout the year so that borrowers can always take advantage of it whenever they need it.
Conclusion:
Our extended rate lock program offers a secure and reliable way for borrowers to protect themselves against rising mortgage rates without having to worry about additional fees or costs associated with it. We hope this helps give peace of mind and stability when planning out your finances during these uncertain economic times.