May 10, 2022
Build your dream home with confidence and secure your mortgage rate with Cornerstone Home Lending.
With an extended interest rate lock, you can save yourself from potential rising rates and secure your rate for longer than the traditional lock period. Cornerstone home lending offers rate locks from 120 – 360 days so you have the opportunity to secure your rate while your home is being built.
There's more good news! If rates drop during your lock period, all options except the 120-day lock include a float down feature. So, you can lock an even lower rate within 45 days of closing on your new home! But what if there are unexpected delays? Cornerstone takes unexpected delays into consideration and can extend up to 5 days free after the initial rate lock period expires and can be extended up to 33 days* if needed.
Learn more about the Rate Lock Program at Cornerstone Home Lending by contacting one of our trusted Cornerstone Loan Officers in your area: www.cavinessandcates.com/financing
*Each lock extension after the first free period is a 7-day period and can extend up to 4 times and incurs a fee as a percentage of the loan amount. Please speak with your Cornerstone Loan Officer for details.