The process of reviewing these factors to determine your rate is called "risk-based pricing." We consider a variety of factors when we determine the interest rate and costs of your loan. Before you can close on your loan, you'll need to lock in a final interest rate.If rates go down prior to your loan closing and you want to take advantage of a lower rate, you may be able to pay a fee and relock at the lower interest rate. When you lock the interest rate, you’re protected from rate increases due to market conditions.We will extend your rate lock at no cost to you. If your rate lock will expire prior to closing and disbursement of funds, a rate lock extension will be required to close your loan. ![]() Some loans require longer rate lock periods.
0 Comments
Leave a Reply. |