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Get Rate Lock Agreement Form
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How to fill out the Rate Lock Agreement Form online
Filling out the Rate Lock Agreement Form online is an essential process for securing your mortgage loan rate with America Home Mortgage Corporation. This guide provides clear, step-by-step instructions to help you complete the form efficiently and accurately.
Follow the steps to fill out the form correctly.
- Click ‘Get Form’ button to obtain the form and open it in your preferred online editor.
- Indicate your choice to lock or not lock the loan rate by checking the appropriate box. If locking, ensure you provide a copy of the purchase agreement at the time of locking.
- Fill out the Borrower and Co-Borrower fields with the names of the individuals applying for the loan.
- Complete the Property Address section with the physical address of the property for which you are applying for the mortgage.
- Select the appropriate Loan Program and Loan Type from the provided options specific to your mortgage loan needs.
- Enter the Loan Amount you are requesting. This should reflect the total amount needed for your mortgage.
- Review the terms of the Rate Lock, including the Interest Rate, Discount Points, Loan Fee, and Lock-in Fee. Fill these values as provided or applicable.
- Ensure you understand the expiration date of the lock-in terms and the associated conditions for loan approval.
- Sign and date the agreement, confirming your understanding and agreement to its terms.
- Once all fields are complete, save the changes made to the form. You may also choose to download, print, or share the completed form as needed.
Complete your Rate Lock Agreement Form online today to secure your mortgage loan rate.
A rate lock protects you from higher rates, but you won't get a lower rate, either, unless you have the option for a one-time 'float down. ' Once locked, the loan's interest rate won't change barring any changes to your application details. You're protected from higher rates, but you won't get a lower rate, either.
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