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float-down

A type of rate lock, plus the opportunity to lower the rate if market interest rates drop significantly during the loan-processing period. Float-downs are more costly to the borrower because they offer more value, and therefore cost the lender more to provide them. Float-downs are diverse in terms of how often (typically once) and when the borrower can exercise this right.

Related information about float-down:
  1. What Is a Float-Down? - Mortgage Professor
    Oct 30, 2001 ... This article compares float-downs to rate locks and argues that on refinances, lenders should offer only float-downs,
     
  2. Mortgage Rate Lock Float Down Definition | Investopedia
    A mortgage rate lock with the option to reduce the locked interest rate if market interest rates fall during the lock period. A rate lock with a float-down option can ...
     
  3. Port Huron Float Down
    PortHuronFloatDown.com the Official Homepage of the Port Huron Float Down. Check out the photo gallery and the Official T-shirt!
     
  4. Port Huron Float Down - Port Huron, MI - Beach, Event | Facebook
    Port Huron Float Down, Port Huron, MI. 5504 likes · 11 talking about this · 308 were here.
     
  5. Float Down Mortgages - Mortgage Loan Place
    Feb 21, 2007 ... Loans with attractive features are usually more appealing to borrowers than standard, by-the-books loans with fixed rates. One feature that is ...
     
  6. Float Down Option | Rate Improvement
    FREE - You can lock your rate with us and still "float down" to a lower rate if it becomes available!
     
  7. Port Huron Float Down - 2012 - YouTube
    Aug 19, 2012 ... For more information, visit: http://www.porthuronfloatdown.com Music: "Fir Coat" by Widowspeak ...
     
  8. Topic: Float Down
    There is more Port Huron video on YouTube including the 2011 Float Down ... Concerned:'' This may only be a coincidence, but of all the people in the 1988 ...