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What is a “float-down?” : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures

What is a “float-down?”

A “float down” is a form of rate lock-in used by some lenders. The particulars may differ, but in general a “float down” means that you lock at today’s rate and can re-lock at least once before closing if rates fall.

Since programs differ, speak with lenders to discuss individual lock-in options.

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