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Mortgage Rates

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Mortgage Market Interest Rates

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.

Rate Lock Options

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.

Secure Your Rate. Apply Now.

Extended Rate Lock

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.

  • There is no upfront fee to use the Extended Rate Lock program.
  • Your rate is eligible to be protected from 60-120 days with BankSouth Mortgage.
  • If rates improve during your extended rate lock period, we offer a complimentary one-time rate float down option.
Secure Your Rate. Apply Now.

Lock & Shop

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.

  • There are no additional fees to use the Lock & Shop program.
  • Take up to 30 days to secure a fully executed contract after the initial rate lock.
  • Your rate is eligible to be protected from 60-120 days with BankSouth Mortgage.
  • Available on purchase transactions.
Secure Your Rate. Apply Now.

Complimentary Rate Float Down

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.

Secure Your Rate. Apply Now.

Contact Us

Telephone: (678) 551-7120
Toll Free: (833) 540-7120

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BankSouth Mortgage Company, LLC, NMLS #690971 is not a bank or other depository institution and is not FDIC-insured. BankSouth Mortgage Company, LLC is a wholly owned subsidiary of BankSouth, NMLS #688851, a federal savings bank and Member FDIC. Alabama Consumer Credit License #MC 21415 DBA LoanSouth Mortgage.
Credit and collateral are subject to approval. Terms and conditions apply. Rates, program terms and conditions are subject to change without notice. Some programs have geographic restrictions. This is not a commitment to lend.
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