Rate Lock Policy
| Rate Lock Hours |
RATE LOCK HOURS 30 day lock requests will be accepted from the time we post rates on our website until 4:00 PM PST/PDT Monday through Friday excluding weekends and holidays. All rates and points are subject to change without notice. |
| What We Require |
| In order to be eligible to lock a loan, we must acknowledge and be in receipt of a complete application sent from our secure website, a rate lock agreement signed by the borrower, and all of the initial required documents itemized in the Required Documents section of our website. Unlike most companies, we do not require that you be approved in order to lock in an interest rate. On a purchase transaction, we do require that you show proof that you have a home under contract. |
| Losing Your Lock/Failure To Comply |
American Interbanc reserves the right to
cancel or modify the duration of a rate lock for the following reasons:
|
| Confirmation of Lock |
| Lock requests are executed immediately upon receipt. The borrower should consider his lock confirmed only upon receipt of a letter signed by an authorized representative of American Interbanc Mortgage, LLC. |
| Volatile Market Conditions |
| American Interbanc reserves the right to suspend lock requests on any business day that market conditions prohibit our ability to execute a lock. |