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Financing in Elk Grove Village : Real Estate Advice

  • All30
  • Local Info4
  • Home Buying10
  • Home Selling1
  • Market Conditions3

Activity 3
Thu Sep 22, 2011
Shane Milne answered:
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 allow you to float-down must see a pretty significant improvement in interest rates, and you do not always get to float-down to the current interest rates, it often is somewhere between where you originally locked and the current prevailing interest rates. ... more
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Wed Mar 17, 2010
Robin Silverberg answered:
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 will do below 50 percent will have a higher interest rate or will only offer an adjustable. ... more
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Financing in Elk Grove Village Zip Codes