Lock N Shop Rate Protection Program Now Available

  • March 20, 2019

Want to give your clients peace of mind when they’re shopping for a home?  Mortgage rates fluctuate for a number of reasons, and the last thing you want to tell your client is that they can no longer afford the home they love.  With the new Lock N Shop rate protection program, from CMG Financial, your clients can lock their rate for 60 to 90 days and shop with confidence.  

How it Works:

  1. Client gets preapproved for mortgage financing – once we issue the preapproval letter they have the option to lock their rate for 60 to 90 days.
  2. Client shops for a new home with confidence – they will have 45 days from the lock date to identify a purchase property. In some cases, an extension or relock may apply.
  3. Rates rise or fall – if rates rise, their rate stays the same. If rates go down, they get a lower rate.  It’s that simple!
  4. Client makes a stronger offer – with our quality preapproval, you can stand out from other mortgage brokers. We’ve already started the home financing process and can ensure a faster transaction.
  5. Client buys a new home – and you earn more referrals!

The Lock N Shop rate protection program is available on fixed-rate Conventional, FHA, VA, and USDA with terms of 30 or 15 years.  A one-time rate renegotiation/roll down is allowed after a property has been identified.  Please note, this program is not available in Massachusetts, New York, or Oregon and it is not available for non-agency products.

If you have any questions about the Lock N Shop rate protection program, please let me know. 

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© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1820).