Alabama Rate Lock Agreement

It`s always a good idea to guarantee an interest rate if you want the best deal for your loan. If you`re looking for a mortgage, it can be very tempting to hold back and see where the market is going. Many buyers do this in the hope of being able to hold back for a better price. What will happen if interest rates go up and down? If you don`t lock in your rate, you`re at the mercy of market fluctuations while your credit is being processed. It`s also possible to rewrite your rate lock to reflect a new, lower rate, but it can cost you more money. It is usually a good idea to sign a sales contract on a particular home before requesting a credit freeze. You can then look for the right credit with a good rate and ask us to guarantee the interest rate in writing. In the event of an interest rate setting period, we must grant you a mortgage at the agreed interest rate, regardless of how interest rates change between your approval and the conclusion of your loan. Even if interest rates rise before closing, you still get the lower interest rate. Whether you`re ready to buy or just looking, you`ve come to the right place.

Compare Alabama mortgage rates for the following credit options. Our local mortgage managers understand the specific needs of the Alabama market. Help us navigate the home buying process so you can focus on how to find your dream home….

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