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Free Mortgage Rate Float Down
Does this mortgage scenario worry you?
You lock in the interest rate on your new mortgage and apply for your home loan. Things are looking up for you because you are confident that you have diligently researched the mortgage market. You feel that you have locked in a fair if not exceptional interest rate on your new mortgage.
But, while your paperwork is being processed, interest rates start to drift downward. They eventually decline to a point that is lower than the rate you locked in. You feel stuck! You haven’t even closed on your home loan and interest rates are now falling. To make matters worse, your loan officer tells you that you must honor the terms of your rate lock agreement. You must close your loan at the higher rate that you have locked in. .
If this happens at most mortgage companies, the borrower is stuck--but not at Mortgage Marketing Associates. Our free Float Down feature prevents you from getting stuck at a higher rate. With our Float Down, you are protected if rates decline while your loan is being processed because you have the option of floating your locked rate down to a lower rate before you close your loan.
Plus, borrowers who lock their loan with Bob Roscoe and Mortgage Marketing Associates can take advantage of our free Float Down program for no extra charge.
You can stop losing sleep over interest rate worries. If interest rates rise prior to closing, your loan is locked at the lower rate and you are protected. But if interest rates fall before you close, use our Float Down feature and go with the lower rate. What could be better?
