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I’ve selected a loan program and locked my rate. What happens if I change to a new rate and point combination or change loan programs?

April 26, 2017happens I’ve loan locked point program rate Selected

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I’ve selected a loan program and locked my rate. What happens if I change to a new rate and point combination or change loan programs?

2 Answers

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You’ll want to be sure the first loan program and rate and point combination you choose is the right one for you. If you change your selected options, you’ll receive the higher of these two: either the rate and point combination the day you choose your lock or the applicable rate on the day you change programs.

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A. You’ll want to be sure the first loan program and rate and point combination you choose is the right one for you. If you change your selected options, you’ll receive the higher of these two: either the rate and point combination the day you choose your lock or the applicable rate on the day you change programs.