Interest Rates and Float Down Options

Mortgage Interest rates are steady right now with an ever so slight downward trend. I don't see significant movement in either direction for the foreseable future but I have a foolproof way of allowing you to benefit if they do go lower. It's called a float down and it's something I highly reccomend to everyone doing a rate and term refinance. Here is how it works. You pay a .5% (one half point) of the loan amount, which is 100% refundable at closing regardless of if you float down or not, and this gives you a one time interest rate float down to the current 60 day market interest rates plus .125%. Once your loan is approved and ready to close if the rates have gone down you get a better rate if they go up you keep the original locked in rate and you get you upfront fee back either way. We can increase the opportunity for you to can get a better rate by getting your loan approved for closing as fast as possible so we can sit for a week or two and watch the market with the hopes of catching a down day for rates and executing the float down.

I provide mortgage refinance loans and purchase money mortgages around the entire country but primarily focus on Maryland, Virginia, and Washington, D.C. If you live in Bethesda, Rockville, Gaithersburg or Montgomery County, MD and you need expert advice on financing your home mortgage and would like great interest rates with straight forward honest advice then please give me a call.

Thanks fo reading,
Peirce