Highlands’ 1 Year Rate Lock Extended Program!
Highlands Residential Mortgage is excited to share our newest way to help buyers in new construction. Our Extended Rate Cap Program will guarantee and protect your client’s interest rate for up to 360 days!
If you are nervous about rising rates? With this program, borrowers can rest easy in a volatile market!
Have confidence while building your Investment property.
Extended Interest Rate Cap Program Benefits:
- Allows borrowers to take advantage of today’s lower interest rates while their home is under construction.
- Avoid uncertainty by capping the interest rate early in the process and allowing up to a 360 Day lock period.
- A one-time “Float-Down” option is available as a safety net if future rates are lower than their locked rate (up to 30 days before closing).
- A required up-front deposit of 1% of the loan amount will be collected at the time of the lock to hold the capped interest rate. The fee will be credited back to them at closing.