can rate be locked before appraisal? - 未名空间MITBBS历史存档

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can rate be locked before appraisal?

can rate be locked before appraisal?# Living

p*p2011-11-16 08:11

1 楼

1) can rate be locked before appraisal?
2) If 1) is yes, here is the further question. for example, the locked rate is lower because it is based on the condition LTV<0.6. After appraisal, the real LTV >0.6,i.e. the condition LTV<0.6 is not satisfied.
Then what will happen to the locked rate? low down the locked rate? or need to re-lock the rate?

B*l2011-11-16 08:11

2 楼

yes, it surely can be locked before appraisal.
Even a rate is locked, everything can be changed except expiration date. So
in your example, the rate can be changed if LTV changes

b*d2011-11-16 08:11

3 楼

1. 可以。
2. 你锁的利率会根据appraisal value发生变化。

rate is lower because it is based on the condition LTV<0.6. After appraisal,
the real LTV >0.6,i.e. the condition LTV<0.6 is not satisfied.
need to re-lock the rate?

【在 p*******p 的大作中提到】

: 1) can rate be locked before appraisal?
: 2) If 1) is yes, here is the further question. for example, the locked rate is lower because it is based on the condition LTV<0.6. After appraisal, the real LTV >0.6,i.e. the condition LTV<0.6 is not satisfied.
: Then what will happen to the locked rate? low down the locked rate? or need to re-lock the rate?

k*o2011-11-16 08:11

4 楼

1) Of course.
2) The rebate will be adjusted accordingly, the rate remains unchanged (since LTV < 60% normally just have 0.25% rebate difference for 30 year fixed).

rate is lower because it is based on the condition LTV<0.6. After appraisal,
the real LTV >0.6,i.e. the condition LTV<0.6 is not satisfied.
need to re-lock the rate?

【在 p*******p 的大作中提到】