{"id":7598,"date":"2019-10-01T08:39:37","date_gmt":"2019-10-01T14:39:37","guid":{"rendered":"https:\/\/www.richmondamerican.com\/blog\/?p=7598"},"modified":"2024-01-04T15:38:36","modified_gmt":"2024-01-04T22:38:36","slug":"mortgage-rate-extended-lock","status":"publish","type":"post","link":"https:\/\/www.richmondamerican.com\/blog\/mortgage-rate-extended-lock\/","title":{"rendered":"Lock in a Mortgage Rate Through Late 2020"},"content":{"rendered":"<p>Planning to buy a home this year? If you\u2019ve been keeping a nervous eye on news from the Federal Reserve, wondering if you\u2019re missing out on your best mortgage rate because you\u2019re not ready to close, an extended rate lock might be just the thing you need to move forward with confidence.<\/p>\n<h3><strong>What is an extended rate lock?<\/strong><\/h3>\n<p>A buyer typically has sixty days to close a loan after locking in a mortgage rate. With an <a href=\"https:\/\/www.richmondamerican.com\/campaigns\/1050\" target=\"_blank\" rel=\"noopener noreferrer\">extended rate lock<\/a> by HomeAmerican Mortgage Corporation, you can extend that period to 350 days by paying an extended rate lock fee.<\/p>\n<h3 style=\"display: block;\"><strong>What if mortgage rates are lower by the time I\u2019m ready to close?<\/strong><\/h3>\n<p>No worries. If you lock in a rate and a better one becomes available within sixty days of the loan\u2019s closing date, you\u2019ll have one opportunity to float down to that lower rate.<\/p>\n<h3><strong>Why should I consider an extended rate lock?<\/strong><\/h3>\n<p>If you\u2019re not going to close on your new home within sixty days, an extended rate lock could be a way to protect yourself from future rate increases. The extra time could allow you to build your dream home from the ground up, personalizing it with structural options, cabinets, flooring, countertops, home technology and more\u2014without worrying about an unpredictable mortgage market.<\/p>\n<p><a href=\"http:\/\/www.homeamericanmortgage.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-7599 size-full\" src=\"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2017\/03\/HMC_logo.png\" alt=\"Home American Mortgage Corporation\" width=\"220\" height=\"35\" \/><\/a><a href=\"http:\/\/www.homeamericanmortgage.com\" target=\"_blank\" rel=\"noopener noreferrer\" data-wplink-edit=\"true\">HomeAmerican Mortgage Corporation<\/a> has multiple extended rate lock terms available. Contact a loan officer at 866.400.7126 for more information.<\/p>\n<p><span style=\"font-size: 14px;\"><em>Rates are subject to change without notice. HomeAmerican Mortgage Corporation&#8217;s principal offices are located at 4350 S. Monaco Street, Suite 100, Denver, CO 80237. HomeAmerican Mortgage Corporation (NMLS Unique Identifier #130676; NMLS Consumer Access website: <a class=\"text-blue underline\" contenteditable=\"plaintext-only\" href=\"http:\/\/www.nmlsconsumeraccess.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">http:\/\/www.nmlsconsumeraccess.org<\/a>), 866.400.7126. Arizona Mortgage Banker license #0009265. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. In Nevada, all advertised loans are offered and funded by HomeAmerican Mortgage Corporation, which can be contacted at 7770 S. Dean Martin Drive, Suite 308, Las Vegas, NV 89139, 702.638.4450, License #67. Oregon License # ML-5694. <\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Planning to buy a home this year? If you\u2019ve been keeping a nervous eye on news from the Federal Reserve, wondering if you\u2019re missing out on your best mortgage rate because you\u2019re not ready to close, an extended rate lock might be just the thing you need to move forward with confidence. What is an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[4],"tags":[380],"featured_image_src":"https:\/\/www.richmondamerican.com\/blog\/wp-content\/uploads\/2017\/03\/NTL0919141_OctoberCampaign_Extended-1.jpg","author_info":{"display_name":"rahblogadmin","author_link":"https:\/\/www.richmondamerican.com\/blog\/author\/rahblogadmin\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Lock in a Mortgage Rate Through Late 2020 - Richmond American Homes Blog<\/title>\r\n<meta name=\"description\" content=\"Worried you\u2019ll miss your best mortgage rate just because you\u2019re not ready to close on your new home? 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