Mortgage rates are making headlines again. With Freddie Mac reporting the highest 30-year fixed rate average in four years and further hikes possible in the next few months, buyers on the fence may be feeling some urgency to make a move.
During Richmond American’s Time to Lock Event, house hunters have two ways to keep ahead of rising rates:
- For a limited time, Richmond American’s affiliate, HomeAmerican Mortgage Corporation, is offering an extended rate lock for up to 350 days—with a one-time option to re-lock the rate within 60 days of closing if interest rates decrease during the rate-lock period. HomeAmerican Mortgage is not charging a lock-in fee for this extended rate lock, which is valid only on fixed-rate loan programs with a loan amount up to $453,100. This could be an attractive option for homebuyers who want to build a Richmond American home from the ground up.
- For buyers who’d like to move sooner, we have quick move-in homes in many markets. Your clients can work with loan officers from HomeAmerican Mortgage to secure their best financing options.
In an effort to help address homebuyers’ mortgage questions, we have a complimentary Mortgage Quick-reference Guide available for download during the event. This new guidebook includes tips and tools to help homebuyers navigate the home financing process—whether this is their first home or their fifth.
For rate lock offer details and to download your own copy of our guide, start here!