How Long Can You Lock in Low Interest Rates?
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With interest rates and home prices still at historic lows, the market for new homes in Atlanta is still conducive to buying. However, record low inventory levels of both new homes and resale properties means that prices will be going up at a much faster rate than we’ve been experiencing.
If you’re looking to buy a pre-sale new home in order to lock-in low builder pricing, you may be concerned about also locking in a low interest rate. At Academy Mortgage, we not only have a standard 30 day lock for interest rates, but also an extended lock-in period of 120 days. To secure this extended lock-in, you can either promise to pay a slightly higher interest rate or pay a fee to keep the current interest rate.
Now is definitely the perfect time to buy, so give us a call today at 404-558-4399 to start the home loan process.
Equal Housing Lender. (c)2013 Academy Mortgage License #3113. GA Lic. # 20505. This is not a commitment to lend. Academy Mortgage Atlanta: 5565 Glenridge Connector, Suite 400. Atlanta, GA 30342. Georgia Residential Mortgage Licensee.