Scott Storace - Branch Manager, 100 Pacifica Drive Ste. 140, Irvine CA 92618 NMLS #226339 949.973.0141

"From the minute you call me to the minute we close, I have your back. No hassles, no banker’s hours & quick response times." - Scott Storace

  • Home Loans up to $3,000,000
  • Interest Rate Float Down Option

Have Questions? Call 949.973.0141

The Best Interest Rate – Get it here!

At PrimeLending, we want you to fall in love with the your interest rate.  In fact, we want your to fall in love with the best interest rate… just like you fell in love with your home.  So, if market volatility is giving you those “not-so-lovely” butterflies, call me!  PrimeLending can sweeten any deal this Valentine’s Day with our Free Float Down Option!  If and when rates fall during your rate lock period, we’ll make sure you do, too!

How to Get the Best Interest Rate

It’s a classic borrower question: “If I lock in my rate now and rates go down, can I get that rate?”  The answer, my friends, is simply dependent on which lender your asking!  In most cases the answer is no because many lenders don’t offer a float down option.  And, those who do, don’t offer it for free.  However, at PrimeLending the answer is almost always – “YES!”  Available with most loan programs, PrimeLending’s Free Float Down Option protects borrowers against upside movements in the market while giving them the benefits of a downside movements that can save them money.  Best of all, it can be done with no additional cost to the borrower.

How it works

Your chance to get today's best interest rate!

Your chance to get today’s best interest rate!  Watch Our Video

It’s simple.  After locking in your rate, you will submit a float down request form provided by me, your loan officer.  If and when rates drop, I will call to notify you.  Because exercising the float down options carries an internal cost, we require the appraisal and loan approval prior to exercising the float down.  Once the appraisal has been reviewed and the loan approved, the the float down window is open.  From here, you can float down one time within 20 days of closing and achieve the best mortgage interest rate available.  Plus, there are no minimum requirements or extra charges for this benefit!

Why is this so important?

Picture this:  A buyer is moving along nicely with a home purchase.  Appraisal is in and all of the inspections are complete.  The underwriter has approved the loan and is close to requesting final loan documents.  Then, the market drops by .375%!  The buyer wants the lower rate since it will save a considerable amount of money.  Without a float down option, the buyer would have to switch loan programs, re-lock and start fresh.  In many cases, buyers have to switch lenders completely.  This can be costly for all parties involved especially if the contract is close to expiration.  The float down option eliminates this dilemma for borrowers and agents.  If you could guarantee the best interest rate wouldn’t go up but take advantage when it goes down, wouldn’t you choose that option?  Volatility is prevalent in today’s market and causes unforeseen turbulence that can flip a transaction on its head. Unless the float down is not offered on a specific loan program there really isn’t a good reason not to use it.  It’s a win-win!  So, control those butterflies and take a more calculated chance at love with PrimeLending’s Free Float Down Option!  Eliminate the stress and worry that come from gambling and the remorse that comes if rates do drop while you’re in contract.  Fall in love with the best interest rate there is!

If you’re in the process of shopping rates, contact me today.  Let’s get you the best interest rate possible!

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