can rate be locked before appraisal?# Living
p*p
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?
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?