This a tip from a Coldwell Banker lender...
Interest rates are comparatively low. That means that now is the ideal time for your buyers to register for Pre-Purchase Rate Protection. Your prospects may register even before they find a property and sign a contract to buy. We give every customer the opportunity to enroll in Pre-Purchase Rate Protection (PPRP) as soon as they receive a mortgage pre-approval from us. So there's no reason to delay!
Pre-Purchase Rate Protection is a free service that safeguards your buyer's interest rate against market fluctuations and gives them the option to lock in a lower rate if rates drop.**
When your buyers sign up for PPRP, we'll cap their interest rate according to where rates are at that time.
- No matter how high rates go, they won't pay more than that cap
- If rates go down, they'll have a one-time opportunity to "float down" and lock in a lower rate before closing**
We can protect your buyers regardless of the changes in interest rates. So encourage them to register for our Pre-Purchase Rate Protection while interest rates are at a two-year low. There's a good chance it will save them hundreds of dollars a year (or more) on their mortgage payment. They'll thank you and refer their friends and family to you for years to come!
Ask your lender how he can help you...
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