Benefits of Rate Locking Before Home Shopping

Is a new home on your Christmas list this year? Or maybe one of your New Year’s resolutions is homeownership. Consider locking your interest rate before you start shopping to help you be prepared to make that offer when the right home comes up. Here’s a few reasons why a rate lock can make home shopping even easier:

Eliminates Rates Change Anxiety – Worried that you’ll miss out on these record low rates? Mortgage rates change almost daily, locking your interest rate can make all the difference in where your final monthly mortgage payment ends up. If you’re on a tight budget, then even the smallest rate increase could mean a potential problem in keeping your mortgage payment within budget. With the Inlanta’s Lock and Shop program, you can better plan your budget and help keep your finances in check by knowing what your interest rate will be before you find your home. And what better time to Lock and Shop than now? Secure your low rate before it’s too late!

Have the Upper Hand – Once you’ve found your dream home, there’s a good chance in today’s competitive market that you’ll be competing with other buyers. To win the deal, you can set yourself apart from other buyers with a rate lock paired and a fully underwritten pre-approval that shows you’re not only ready to buy, but your homebuying process will be expedited, getting you – and them – to the closing table more quickly and easily.

Gain Peace of Mind – The homebuying process can feel overwhelming at times. A rate lock and pre-approval can give you peace of mind by eliminating potential delays in closing caused by waiting for lenders to prepare, document and evaluate your loan application. During that time, the cost of your mortgage could increase and create unexpected complications.­­­

NO Fees! – If you’re worried about how much it will cost you to take advantage of Inlanta’s Lock and Shop program, you’re in luck! Our program offers no fees to lock and hold your rate so you can save your money for more important things – like your down payment or furniture for your new home.

Wondering if you qualify for Inlanta’s Lock and Shop Program?  Features and eligibility requirements include:

  • No Fees to Lock and Hold Your Rate!
  • Fixed rate purchase mortgage only
  • Minimum FICO of 640
  • 72-day lock period*, extension limits apply

To learn how the Lock and Shop program could make your holiday dreams of new home ownership come true, speak to one of our expert loan officers in

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