Float Down Policy

Rate Float Down Policy

  • Fixed rates must drop by at least 50 basis points
  • ARM rates must drop by at least 62.5 basis points
  • Rate drop must occur 7 business days prior to closing
  • Loans with Mortgage Insurance not eligible
  • Minimum loan amount $200,000.00
  • Maximum loan amount $625,500 ( Non Conforming and Jumbo Loans not eligible)
  • Loans with 2nd Liens or Subordinations not eligible
  • Eligible for Single Family and Townhouses only