Portland Mortgage News

If you want to protect yourself in this rising rate environment, the new lock and shop program is a great hedge against the uncertainty of future interest rates.  Before this program came out, you had to have a purchase contract for a home to lock your interest rate, but now we can protect you and preserve your buying power.

Here's how it works: we can lock your rate for up to 90 days while you are looking for a home.  That way you will have a definite dollar amount for which you can qualify and your loan application can be fully underwritten as well.  Having already crossed those hurdles, you can compete with a cash buyer and if you want you can offer to close much more quickly than most buyers.  When the property gets an appraisal waiver you can close in as little as 5 business days and within 15 days even if we need an appraisal to qualify the property.

Just one more way that we are being Pro-Active to help you achieve your home ownership goals!