The task of finding the perfect home is tough enough, but it's even tougher when the one you finally find falls through.
Well, here's one way to make things easier: Rate Lock Insurance.
For whatever reason you lose the house you locked your rate for, you'll be able to transfer that great rate to the next property, even if rates have gone up. Here are the basics:
• Transfer a locked rate from one property to another within the same loan
amount
• Available on conforming and government fixed rate loans only
• The fee of 1/10th point of the requested loan amount must be paid when
locking the original rate
Well, here's one way to make things easier: Rate Lock Insurance.
For whatever reason you lose the house you locked your rate for, you'll be able to transfer that great rate to the next property, even if rates have gone up. Here are the basics:
• Transfer a locked rate from one property to another within the same loan
amount
• Available on conforming and government fixed rate loans only
• The fee of 1/10th point of the requested loan amount must be paid when
locking the original rate
Fees associated with Rate Lock Insurance are non-refundable and are subject to change without notice.
