How Rate Defense Works.
- Lock your interest rate and continue moving toward closing.
- We monitor market conditions while your loan is in process.
- If eligible rates improve enough before closing, we review whether your rate can be renegotiated.
- If the applicable requirements are met, your loan may be updated to reflect improved pricing.
The Best of Both Worlds.
Your rate lock helps protect you if rates move higher. Rate Defense may give you another opportunity if rates move lower.
Lock in today. Stay ready for tomorrow.
What This Is Not.
We would rather be straight with you than clever. Rate Defense is a review, not a promise. Rates may not improve. If they do, the improvement may not clear the lender’s threshold. There may be a fee. The honest version is that it is a door we will check for you, every time, without you having to ask — and we will tell you plainly when it does not open.
Important Details.
Rate Defense is not an automatic interest-rate reduction or a guarantee that a lower rate will become available.
Eligibility depends on the participating lender’s lock-renegotiation policy, the amount of market improvement, loan program, lock status, available pricing and the timing of the request. Minimum rate or pricing improvements, fees or other restrictions may apply.
The borrower must continue to qualify for the loan, and the loan must remain eligible under the applicable lender and underwriting requirements. Rate renegotiation must be completed before closing and cannot be applied after the loan has closed.
Program availability and terms may vary by lender and are subject to change without notice.