Interest rates for mortgages can vary significantly from one borrower to the next based on the specific details of the transaction. Some of the main factors that affect the interest rate are credit score, down payment or loan-to-value, the type of mortgage, and how long the interest rate is locked.
Lock in your mortgage interest rate and proceed with peace of mind knowing you are protected against a rise in interest rates during your lock period.
With Extended Rate Lock, you can take advantage of current rates for up to 120 days without worrying about changing rates. This provides more time to close on your perfect place to call home.
The BankSouth Mortgage “Lock & Shop” program allows you to lock in today’s rate and then continue shopping for your new home. Now, you can focus on finding your dream home and not worry about interest rates.
With our complimentary float down option, once you lock in your rate for at least 45 days, if rates improve more than 10 days before closing by at least .125, you can float down your rate for free.
