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What is the benefit of the Harris Rate-Cap/Float-Down feature for new construction?

April 26, 2017benefit Construction feature Harris

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What is the benefit of the Harris Rate-Cap/Float-Down feature for new construction?

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The Rate-Cap / Float-Down option may be elected when building a new home. Frequently, a new home will not be completed within the standard rate lock period. If this is the case, an extended rate protection program is a smart move. Harris offers options offering up to fifteen months of interest rate protection, depending on your product choice.