As our housing market starts slowly recovering from the decline, lenders with the assistance of historically low-interest rates are being very creative with different loan programs to entice buyers with options that now make owning a home simply irresistible.
During my search, one of the loans that caught my attention was the MetLife Home Express Loan Program Lock & Shop. Here are some of the most attractive features of this amazing package loaded with incentives for the purchaser. The first and most important is any buyer can use this loan including VA/ FHA or a Conventional buyer. Normally you must have a binding contract with a seller to lock in on an interest rate but with the Lock and Shop, it gives you the opportunity to lock in on a low rate without having an accepted offer.
With other loans if a buyer locked in on an interest rate, you might be stuck with that rate even if rates dropped during the processing period, but with the MLHL Lock and Shop, a buyer can float down one time if interest rates are more favorable. See what I mean by irresistible.
If a buyer needs a longer escrow period, the locks are good for up to 75 days. Since these loans are underwritten at MetLife, buyers can close escrow in less than 14 days. All of these great features and interest rates for this loan are near 4%. Contact Rick Carrie at Metlife for more details.
Please visit my web site at JohnnyBrooksHomes.com for helpful tips on buying or selling a home and easy access to view local area homes for sale.