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Locking In Your Interest Rate
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If you are considering a refinance of your existing home loan, chances are it's because conditions are right for you to get a lower interest rate than you currently have. This lower rate presents an opportunity to save thousands of dollars over the life of the new loan. The key is to "lock in" a good rate.
Locking your interest rate will secure your home loan interest rate and total monthly payment. Until you lock in your interest rate, your home loan will continue to "float." During the floating period, home loan rates may increase or decrease.
Note that locking a rate does not obligate you to close on a home loan. Nor does it guarantee a full loan approval.
The lock is merely a security measure to eliminate the risk of market volatility throughout the duration of any loan transaction.
Once you are locked in, your rate will not change. Your home loan professional will advise you on the best time to "lock in" a great rate and for the sufficient length of time.
If you or someone you know would like to learn more about available home loan options, please get in touch. I'm happy to help!
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For professional use only. Not intended for consumer distribution.
Equal Housing Opportunity. Figures deemed reliable, but errors may occur. Rates and terms subject to change without notice. This is not an offer to make a loan or to make a loan on any particular terms. All loan applicants must qualify under the underwriting requirements and satisfy all contingencies of loan approval. BDR Mortgage Capital, LLC. NMLS Number 1702138. Corporate Address: 23 South 8th Street Suite 1500 Noblesville, IN 46060.
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BDR Mortgage Capital Brian Reno 23 S. 8th St. Suite 1500 Noblesville, IN 46060
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