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| LEGAL FLOAT DOWN POLICY |
Our float down policy is only extended to a conforming loan limit of $417,000.
This is how it works:
Mortgage Capital Associates, will permit a one-time float down of your rate only if our posted rates drop at least a .25%. If this happens, we will split the difference with you and give you a drop in rate of .125%.
Exception: Once your loan documents are prepared and sent to title or escrow for signature, we are no longer able to extend the float down policy.
It is the borrower's responsibility to contact us during business hours on the day of the rate drop in order to obtain the float down of their rate. Borrowers must contact us by emailing info@mtgcapital.com (preferable), fax or telephone.
Thank you for choosing Mortgage Capital Associates.
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