What’s a free interest rate float down guarantee*?
What’s in your best interest is our number one priority. No matter what phase of your loan transaction with us that you are currently in; if market conditions significantly change causing interest rates to go down, we will float your interest rate down with no additional costs to you.
Example: If Mortgage Rates Improve Significantly after you've locked your loan, before your loan closes, we will float your rate down to todays lowest interest rate free of charge.
You can be confident in knowing we guarantee our free interest rate float down to all of our applicants whether you’re purchasing a home or refinancing your home.
All Locked loans are eligible to float down under the following terms:
New interest rate must be lowered by at least .25% (1/4 of a point) compared to original rate lock.
Loan status must be approved with conditions or with final approval and clearance to close.
If you are approved with conditions, you must have all requested conditions presented prior to rate float down.
Float down must be completed a minimum of 5 business days in advance of scheduled closing to allow time to modify loan documents.
The new rate lock agreement should reflect 30 days, or the original expiration date, whichever occurs sooner
Limited to one float down per loan.
Available on 30 Year Fixed (Conventional, FHA, and VA) Home Loans only.
Are you ready to move forward with a purchase or refinance? Please give us a call at 888-810-1459 and let us help you secure financing for the purchase of a new home or save you money on the refinance of your existing home. Be sure to ask your loan officer about our closing costs incentives and our low rate guarantee!
*Free Float Down Guarantee Disclaimer: Borrower is eligible to receive one free rate float down under the following conditions: 1) The borrower must have a fully completed application on file and all documents required for underwriting must be submitted to the Dallas TX branch (“Dallas branch”) of Skyline Home Loans. 2) The borrower’s loan status must be fully approved with clearance to close. 3) The interest rate must have improved .25% from the original rate at the time of the executed lock agreement. Upon satisfaction of all conditions the Dallas branch of Skyline Home Loans will float down the interest rate to the available market rate. A new rate lock agreement must be signed and executed by the borrower. The new rate lock agreement should reflect 30 days, or the original expiration date, whichever occurs sooner. The loan must close before the 30 day rate lock expiration. Float down must be received and completed a minimum of 5 business days in advance of the scheduled closing date to allow time for modification of loan documents and approval from underwriting. Products and services may not be available in all states and are not available in states in which Skyline Home Loans is not licensed. Offer available only through the Dallas branch of Skyline Home Loans. Terms are subject to change at any time. Please consult with a Skyline Home Loans Dallas branch loan officer for additional details.