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To lock your mortgage, we must have received three things:
- The completed loan application & disclosures with your original signatures. This requires you to first
apply online. We review the application (typically the same day!) and email it back
to you right away so you can print it, sign it and fax/scan/mail to
us as you prefer.
- Payment that goes to the credit reporting companies for your combined credit report.
- Payment for the independent appraiser who will evaluate the value of the property.
(With recent government changes, the credit report usually needs to happen right away whether you lock or float,
and we need your payment in hand to order it. This is usually done
with a credit card link we send you. The appraisal must now wait a
"cooling off" period by government mandate - we'll advise
the soonest it may paid & ordered.)
You may decide to lock your mortgage immediately after all this
is in hand & reviewed or after youve floated
up and down with the market. All you need to do when its time for you to lock is email or phone us, telling
us to lock your mortgage. Should you use email, be certain we have replied well before the 4:45 pm cut-off or
a phone call is required.
The rates you see posted on the mortgagefool.com web site are for purchase settlements occurring within 30
calendar days of locking. Longer locks are available for additional cost. Please email for specifics.
Rates & points
subject to change if market conditions require!
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