Locking
In California Mortgage Rates
A
rate lock is a legal commitment between the lender and the borrower.
The lender promises a loan at a specified interest rate. The borrower
may promise to pay certain points and fees (this is especially true
if the lock is for more than 30 days).
Both
parties agree to do their best to close the loan on or before a
specified date. If the loan isn't closed by the deadline, the contract
expires. We will do
our best to lock you into the best deal for which you qualify.
Contact us to begin the loan application
process. One of our brokers will do his or her best to match you
up with the appropriate funding source and then we can lock in the
promised rate.
During that locked-in period, with
your prompt cooperation in providing various documents the lender
will require, we will immediately proceed to closing the loan.
Shall we start today? Give Michael
a call. He will put you with a broker who will soon be locking in
your California mortgage rate. |