Protection from rising interest rates
Are you in the process of building a new home or considering building a new home? Are you worried that interest rates could go up before your home closes? Worry no more, Skyline Home Loans offers you the ability to lock your interest rate for up to 6 months . We give you the opportunity to lock at today’s rates, build your dream home and take advantage of today's low rates without concerns over rising rates.
Here’s how it works
The borrower is charged 1 point (1 percent) of the loan amount up-front at the time of an executed "lock" agreement. Skyline Home Loans will then purchase a rate lock for 6 months. When the loan closes escrow, the initial 1 point that the borrower paid up front will be returned to the borrower via a lender credit to be used toward allowable closing costs. If the borrower does not close their loan within the 6 month period the rate lock will expire and the upfront 1 point that the borrower purchased will be surrendered.
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!
Disclaimer: Borrower understands that quoted rates reflect the currently available lending rates only. Rates are subject to change without notice. There is no rate guarantee for “unlocked” loans. A loan is not locked until the borrower has executed a signed lock agreement with the mortgage lending institution Skyline Home Loans, Dallas TX branch (“Dallas branch”). At the time of executing a Six Month Rate lock agreement the borrower will pay the Dallas branch of Skyline Home Loans 1 point or 1% of the loan amount up front. A locked loan is assigned a specific expiration date by which the loan must fund. If the loan does not close on the agreed upon date the upfront 1% rate lock fee will be forfeited and the interest rate will be subject to increase at the available market rate. If the borrower cancels the loan with Skyline Home Loans, the 1% upfront rate lock fee will be forfeited. The lender’s decision to make a loan is based on numerous factors, many of which are outside of Skyline Home Loan’s control. Your loan cannot be closed until it has been underwritten, approved, and properly documented. We will strive to obtain all of the required information so that a lending determination can be made, and the loan funded within the lock-in period. However, Skyline Home Loans is not obligated to make the loan to you . Six Month Rate Lock may not be available with other Skyline Home Loans branches.