I'm hopeful you may find this helpful. I can go into more description if you'd like Sloan@BrantsRealtors.com 817-223-5435
The rate in section C should be the highest rate that you are willing to pay for financing. That gives you the opportunity to cancel the contract if the rate you are approved for is higher and results in a payment that exceeds your comfort level.
If you'd like to discuss this further, call me at 512-797-9167 or send me an email, email@example.com.
REALTOR(R) GRI, SFR
Century 21 HSK and Associates-Austin
Good luck to you.
REALTOR | Mortgage Broker
Keller Williams Realty | 360 Lending Group
As others have said this is a ceiling rate that you would be will to accept.
it's also an out of the contract, meaning that if for some reason the rate goes
higher than this rate, you have the right to terminate within the time guidelines.
You are not forced to terminate, but you have the option.
I would normally put a little higher interest rate than that provided to you by
the lender on the GFE.
Ideally you want the interest rate to be what the lender quotes at the time of executing the contract. But, it is open for negotiations.
Hope this helps! Let me know if I can help any further.