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

Introducing Lock And Shop

Lock and Shop: Don't Miss The Mark

Lock and Shop: Don’t Miss The Mark

Orange County, CA – Imagine your excitement when your lender finally approves you for a mortgage, and the hunt for a home begins. Imagine your chagrin when the search drags on a little. Why is this bad? Well:

The political & financial situation in Washington DC is putting US credit on shaky ground. Political gridlock, debt ceilings, quantitative easing equate to world markets that are particularly volatile right now. Which means that the government is looking for ways to stabilize the economy, like using financial policy that increases the rates on US treasury bonds. Unfortunately for house hunters, interest rates on mortgages rise concurrently with US treasury bonds. Bottom, rates are rising and that affects your purchase power.

Whew, that was quite an explanation. But it’s important because if you’re house hunting there’s a strong chance that your rate will be  creeping upward while you find the right home. The longer you wait to find the perfect house, the less house you’ll be able to afford. To compound the problem home prices are rising at the moment too. So every day that passes is a double whammy on your long-term finances.

That’s why we’ve taken, in our opinion, the obvious next step in serving our clients. PrimeLending has always offered the best of both worlds with our famous float down program. But now they have taken it one step further with the Lock and Shop program.

The Lock and Shop program allows borrowers to lock in their interest rates the moment they’re prequalified for a mortgage — not when they finally find the right home. The program in it’s beta stage right now; if it works out in places like Orange County, it will be pushed out to all PrimeLending locations across the country. It works alongside our existing float down program, which allows you the potential to further reduce your rate after you’ve locked.

The Lock and Shop program gives you 45 days to choose the property you want, and another 30 days to work out the details with the owner and close the deal. With 75 days from the moment the loan is locked to the date of closing we’re confident that our clients will be able to get into the best homes and get the best rates available.

If you want to participate in the Lock and Shop program, give Orange County Funding a call today. Start the approval process today and get your rates locked before they swell. Find the right home, close the deal within two and a half months, and enjoy your low rates for the next 15-30 years. It all starts with you picking up the phone and getting the process started.

Scott Storace

 

 

 

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