Just in time for the holidays we’ve seen some good news on interest rates as they have been coming down and hopefully we’ll see this trend for the long term but that does create a different type of stress for a buyer as they’re deciding when to lock in the interest rate. Well, we have a solution to help with that.
My name is Tom Heath. I’m Vice President Senior Loan Officer and head of the Mortgage Guidance Group at Nova Home Loans and we’ve recently rolled out our Float Down Program. It’s an optional program buyers can participate in and if they do they are protected when they lock their interest rate from any deterioration. Meaning if rates get worse they’re protected. They also allow themselves an option to float their interest rate down one time prior to closing if markets improve. This is a really good way to hedge your bets so to speak. You can protect the interest rate in the long term and give yourself some options for improvement over the short term.
If you have questions on this don’t hesitate to reach out and as you’re working this weekend with your buyers and they’re out looking at your homes. If they have questions on this or any other programs know that Trevor and I are here to answer them and we look forward to speaking with you. More information on our website MGGroupTucson.com and as always we look forward to you contacting us and sharing any questions or ideas you have for these videos.
