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Rate Locke--Yikes

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Anonymous
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Rate Locke--Yikes

I locked in my mortgage rate on 08/27 when it was 5.625. Now I just check the VHDA website and it is now at 5.250....can I do anything to get the lower rate?
 
 
Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: Rate Locke--Yikes

You have to look into your paperwork. You may have the option to "drift" to the lower rate. Anyway, pretty nice rates.
Message 2 of 5
BrianB_The_Loan_Professor
Valued Contributor

Re: Rate Locke--Yikes

Because rates changed so quickly many lender will renegotiate rather than you have drop them and go somewhere else for the lower rate. You need to ask to find out.
 
Good Luck
Brian
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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
Message 3 of 5
Anonymous
Not applicable

Re: Rate Locke--Yikes

Thanks you guys, I was a little worried. How the economy is now, every little bit helps!!
Message 4 of 5
Anonymous
Not applicable

Re: Rate Locke--Yikes

Looks like you're getting a great interest rate either way, congrats!
Message 5 of 5
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