A rate lock is a contractual agreement between the lender and the buyer/borrower. There are four components to a rate lock: loan program, interest rate, points, and length of lock term. Read the rest of this entry »
Dec
17
Usually homeowners refinance to save money, either by obtaining a lower interest rate or by reducing the term of their mortgage. Many borrowers now are refinancing to move from an adjustable (ARM) loan to a fixed rate. Another popular option Read the rest of this entry »
