What is the rate drop policy with respect to pre-approvals?

A good lender will pre-approve you at a certain rate for 120days.

Mortgage Tip:  If rates drop during that timeframe and you decide to close on your mortgage, you should qualify for the lower rate.  If rates increase, you still have the benefit of the lower rate.  (This could vary from lender to lender)

No Comments Yet.

Leave a Reply