Comments on: Interest Rate Lock or Float: Protect your Arizona Mortgage

By: Alberto Madrid

Alberto Madrid — Mon, 08 Mar 2010 22:37:57 +0000

Hey Bill
The option is great but what’s even better is that its free insurance. It’s completely refundable whether the float down is utilized or not. The only time a borrower would have to pay for it is if they cancelled at no fault of the seller or the lender. I have never had it happen yet! Knock on wood! Thank you for the comment on my 1st post.

By: Bill Risser

Bill Risser — Mon, 08 Mar 2010 20:06:21 +0000

I hear horror strories about rates and locks weekly in closings at my office. It is definitely worth a small fee to get the peace of mind that comes with knowing you will get the best rate possible… Wish I had this option a few years ago…

By: Alberto Madrid

Alberto Madrid — Mon, 08 Mar 2010 19:59:41 +0000

Hola Tony

Heck Yeah it’s a cool option! Once we explain it to our borrowers, they are all over it. Thanks for your comment!

By: Alberto Madrid

Alberto Madrid — Mon, 08 Mar 2010 19:55:06 +0000

Hi Dean

The float down option is pretty awesome and it’s truly a no brainer. Thank you for your comment on my first post. Thank you for your support and have a great day!

By: Alberto Madrid

Alberto Madrid — Mon, 08 Mar 2010 19:49:10 +0000

Hey Nick, Thank you for your comment on my first Post. I would have to agree that most people are intimidated by the financing process let alone the locking of their interest rate of their loan. Unfortunately, most borrowers perception of loan officers is that we are going to pull a fast one on them. The float down is awesome and it does give them a peace of mind. The float down was strictly designed for the borrowers benefit because the loan officer can’t ever make any more money than they did when originally locked. Thank you for your support and for the referrals!

By: Tony Peterson

Tony Peterson — Mon, 08 Mar 2010 19:14:01 +0000

this is a really cool option! I didn’t get introduced to this with my last lender, I wish I had known of you guys!

By: Dean Ouellette

Dean Ouellette — Mon, 08 Mar 2010 18:12:15 +0000

Great to see that you have this. Not many lenders do and it is a great service a win-win for the borrower

By: Nick Bastian

Nick Bastian — Mon, 08 Mar 2010 18:07:28 +0000

I love that people have this option, it is a great “peace of mind” feature for many clients. The stress of the home buying process and the shopping of rates is a lot for many people to handle.
Thanks for always explaining this process to buyers when we have them call you for a pre-qual. It helps, a lot…