The alternative to locking in an interest rate is to allow the rate to float during the mortgage processing period. The benefit of not locking is that if interest rates move lower before the final loan documents are drawn, the borrower gets the benefit of the lower rate. However, in today's volatile interest rate environment, most buyers opt to lock-in.
Northlawn Financial, Inc.
Residence Types | Credit Scores | Loan To Value(LTV)
| Combined LTV(CLTV) | Assets and Reserves | DTI Ratios
| Income Types | Mortgage Insurance
