Press Release
Weichert Financial Services Allows Home Buyers To Lock In An Interest Rate And Shop For A Home
1/31/2006
MORRIS PLAINS, N.J. – For prospective home buyers wondering whether interest rates will rise, Weichert Financial Services offers a timely solution called “Lock and Shop.” As the name suggests, the program allows qualified buyers to secure or “lock in” an interest rate on a pre-approved mortgage loan before finding a home to purchase.
Fred Watkins, president of Weichert Financial Services, said, “While interest rates are still near historic lows, Lock and Shop can ease any concerns buyers may have about future rate hikes diminishing their purchasing power. With an affordable interest rate locked in, buyers participating in the program can confidently focus on their home search.”
For qualified borrowers, the Weichert Lock and Shop Program includes both a mortgage pre-approval and a lock-in feature that guarantees an interest rate for a specified period of time, up to 120 days. During the lock-in period, buyers may shop for a home with the peace of mind of knowing exactly how much they can afford and what their monthly loan payments would be.
Importantly, the pre-approvals given by Weichert Financial Services are among the most reliable in the industry. Each is a fully verified and underwritten credit approval that will become a final mortgage commitment once the home selected is acceptably appraised. In sharp contrast, a recent survey conducted on behalf of a leading financial publication found that 39 percent of pre-approvals from Internet lenders fell through due to lack of verification. Traditional lenders performed only somewhat better, with 27 percent of pre-approvals from mortgage brokers found faulty, 19 percent from national lenders, and 14 percent from local banks.
Weichert Financial Services ranks among the top lenders in the nation. Its roster of 360 mortgage products runs the full gamut, from traditional 30-year fixed-rate loans and adjustable-rate mortgages to no-money-down and interest-only financing. Subject to certain terms and conditions, loan amounts can go all the way up to $2 million.
As an affiliate of Weichert, Realtors®, the company has experienced mortgage professionals serving every Weichert office. Called Gold Services Managers, these financing experts can provide mortgage credit approvals virtually on the spot, help buyers determine which mortgage option makes the most financial sense for them, and greatly streamline the mortgage process. A “one stop, many solutions” customer resource, Weichert Gold® Services Managers can also help expedite homeowners’ insurance, title insurance, the moving process, and many post-move needs that come up.
More information on the Weichert Lock and Shop Program is available through any neighborhood Weichert office.
Weichert has more than 17,200 sales associates in over 380 company-owned and franchised sales offices in key markets throughout the U.S. A family of full-service real estate and financial services companies, Weichert helps customers buy and sell both residential and commercial real estate, and streamlines the delivery of mortgages and home and title insurance. For more information, call Weichert's customer service center at 1-800-USA-SOLD or visit Weichert's Web site, www.weichert.com. Each Weichert franchised office is independently owned and operated.