Financing in Elk Grove Village : Questions & Answers

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Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Are there new rules in place that prevent a bank/broker to re-lock a rate at a lower level as the interest rate continue to fall?
The only regulation would be the lender's lock-in policy - after you lock in, if rates improve, some allow you to float-down your interest rate and some do not. Those that do allo ... more
0 votes Share Flag Thu Sep 22, 2011 Financing in 60007
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
I have a contract on my property for sale. The buyer is completely qualified and all was well until we found out the assoication has a large amount
That is another issue as well, or could be. Many lenders want at least 70 percent sold or in contract, whereas a portfolio lender with a good interest rate could go with 50. Most who wi ... more
0 votes Share Flag Wed Mar 17, 2010 Financing in Elk Grove Village
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