Oct 19 2010
Best Mortgage Rates the best way to go about it.
Best Mortgage Rates the best way to go about it.
When you finally decide on the kind of mortgage you want and the lenders you’ll be working with, take a look at the good faith estimate, the GFE, that they give you (you did get one as you have a right to under the law, didn’t you?).
Make sure that the interest rate they quote you is guaranteed for certain. Ask for what your window of opportunity with rates is. If it appears that the best mortgage rates you worked so hard for are at risk of rising, ask for a lock-in and get it in writing. Sometimes, they’ll give you a lock-in with a floating option.
What that means is, that you don’t have an absolute lock. If rates rise of more than a certain amount though, you have protection against that.
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