A mortgage lender explains how their process lets clients lock in rates immediately when they sign a contract, then adjust later if rates drop. This differs from traditional lenders who lock rates at a different stage.
How we lock in rates might be a little bit different, but I can promise it's for a really good reason. So what normally happens, you get under contract on your new home, and then you need to find a time for you and the lender to go through all your different options so they can lock in the perfect fit for you. That sounds great, but we understand the real world's a little bit more complicated, sometimes a little bit messier than that. Maybe you're busy tonight. Maybe it's another day or two before you get a chance to actually sit down and talk with the lender. Well, the market changes each one of those days, and you might have lost your better options by the time you get a chance to talk about it. So what we do that's different is you get under contract, you lock in your best interest rate right then and there. I scan every lender in the country to find your best fit. But when we lock in the rate, we lock in the whole list of rates, all of the options. So that moment in time is frozen. Pressure's off. Then we can find a time that works for you to chat and finalize or slide up and down the scale of interest rates. And even better yet, we still don't lose tomorrow's rates or the next day's rates. So when I walk in a rate, I'm locking in the best lender for you at that given time. But we still keep all of our other lender options available. That's something no other bank in the country can compare to.
