has launched Rate Secured, a program designed to lock eligible borrowers into an interest rate for 90-days after engaging with the lender, whether or not they have already selected a property.
According to the Nashville-based company, the Rate Secured program also enables to reset the rate for another 90 days if they don’t locate a property during the initial 90-day period. Also, the program will allow an adjustment to a lower rate a closing if interest rates should decrease during the lock time.
“In today’s rising interest rate environment, buyers are more hesitant to enter the market and are appropriately cautious towards any future changes,” said Mike Hardwick, founder and president of Churchill Mortgage. “Through Churchill’s Rate Secured program, we are empowering borrowers to better plan their home searches by eliminating any surprises relative to their financing–all of which helps ensure a smarter mortgage process and better borrower experience.”