Interest rates are on an upward trajectory, but not everyone can take advantage of the low rates we have now.

I’m joined today by Mandi Henriod of Intercap Lending, who shared with us a great way buyers can lock in current interest rates. Let’s say rates are 5.25% now and you know you want to buy a home within the next year, but by then, the rate will likely increase to 6.25%. Intercap Lending’s new program can help.

Their clients can now lock in a rate for up to 120 days while shopping for a home. Most lenders won’t lock in a rate without having a purchase contract, but that’s not the case with this program. Intercap Lending will be able to lock it in with no up-front fees, and they can even lock the rate on a specific property for up to 360 days (with a fee). This is a great option if you have a home under construction.

“Most lenders won’t lock in a rate without having a purchase contract, but that’s not the case with this program.”

Unlike any other option we’ve seen, the up-front fee is refundable at the time of funding. All of their rate-lock options allow for renegotiation if rates somehow decrease. They’re able to offer this on all agency loan programs, including FHA, VA, and conforming loans.

If you’re looking to make a move within the year, contact Mandi at Intercap Lending so you can lock in a low rate today. If you have any other questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.