Good news – we’ve updated our extended rate lock program to help your clients in this rising rate environment! Our new lock options allow your clients to lock in their interest rates for up to 360 days while you help them navigate the purchase of their new home.
This expanded option is available for conventional fixed-rate and government products, allowing the flexibility to float down within 30 days of closing.
All extended locks will require a non-refundable 1 point up front fee due to Luminate within 3 days of the invoice. Please note that:
- A portion of the upfront fee will be credited at the time of closing.
- The upfront fee is non-refundable if; withdrawn, canceled, or changed to a product that is not eligible under the extended rate lock option.
If the market has improved, a float down option may be exercised within 30 days of closing and no later than 10 days prior to closing.
For more information or if you have any questions, please don’t hesitate to reach out!
Ready to get started? Reach out today! We’re here to help!
P: (652) 451-2273
P: (651) 398-3477