Lock N Shop Rate Protection Program Now Available
What’s your biggest concern when shopping for a new home? Your mortgage rate. Mortgage rates fluctuate for a number of reasons, including the greater economic climate. Once you are preapproved for mortgage financing, the last thing you want to worry about are changes to your approval amount. With CMG Financial’s new Lock N Shop Rate protection program, you can lock your rate from 60 to 90 days. Get the peace of mind to shop with ease. Know that if rates rise, you are protected, and if rates fall, we will automatically lower your rate!
How it Works:
- Get preapproved for mortgage financing – once we issue your preapproval letter you have the option to lock your rate for 60 to 90 days.
- Shop for a new home with confidence – you will have 45 days from the lock date to identify a purchase property. In some cases, an extension or relock may apply.
- Rates rise or fall – if rates rise, your rate stays the same. If rates go down, you get a lower rate. It’s that simple!
- Make a stronger offer – with our quality preapproval, you can stand out to home sellers. You’ve already started the home financing process and can ensure a faster transaction.
- Buy your home – welcome home!
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.