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What happens if I switch loan programs or rate and point combinations after I have chosen a program and locked my rate?

April 26, 2017chosen happens loan locked point program Programs rate Switch

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What happens if I switch loan programs or rate and point combinations after I have chosen a program and locked my rate?

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You will receive worse case pricing from the day you locked in and the day you switched programs or rate and point combinations. In addition, you will be charged an additional .125 of a point. Therefore, it is important that you carefully consider the different programs and rate and point combinations before locking in a program and interest rate.