Real estate agents know better than anyone how critical it is to win in a competitive marketplace. Some buyers will want to avoid a bidding war altogether, but for those that want to engage, here are some tips on how to come away successful.
When to Lock a Mortgage Rate
Real estate agents are often asked to advise homebuyers on financial matters especially on mortgage rates and when to lock them in. These can be difficult conversations, because things like whether to lock or float an interest rate can be guess work. A mortgage rate lock simply guarantees a specific interest rate if a loan closes by a particular date. Rates can often be locked for up to two months. At Express Cash Flow, we work with agents to keep their cash flowing with commission advances, and we’ve picked up a few tips for homebuyers who are deciding when to lock in an interest rate.