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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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mortgage people
what does it mean to "float a lock"?
"You have the option to float your rate (not lock in) and wait 30 days before closing"
TIA!
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Posted 4/20/11 11:24 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
CaMacho
Sisters :)
Member since 7/06 15112 total posts
Name:
Jess
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Re: mortgage people
We did this... we floated until the rate went down to what we wanted. It's risky b/c the rates can go up and it's a PITA to constantly call for the rate every day but it was worth it for us. When the rate hit what we wanted we called to lock in.
ETA: What's the rate now?
Message edited 4/20/2011 11:43:38 AM.
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| Posted 4/20/11 11:43 AM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: mortgage people
we got a rate of 4.75 on a 90 day lock today
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| Posted 4/20/11 11:57 AM |
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bobby769
LIF Infant
Member since 7/10 253 total posts
Name:
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Re: mortgage people
I would lock if you haven't.
IMO, rates are not going down any time soon.
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| Posted 4/20/11 12:18 PM |
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Katareen
5,000 Posts!
Member since 4/10 7180 total posts
Name:
Katherine
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Re: mortgage people
Posted by maymama
we got a rate of 4.75 on a 90 day lock today
From where if you don't mind me asking??
Any points?
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| Posted 4/20/11 12:32 PM |
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maymama
my little loves
Member since 8/08 18453 total posts
Name:
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Re: mortgage people
Posted by Katareen
Posted by maymama
we got a rate of 4.75 on a 90 day lock today
From where if you don't mind me asking??
Any points?
wells fargo, no points
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| Posted 4/20/11 12:40 PM |
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