Geneva Financial Home Loans (Geneva) announces the rollout of LockAssure™ – a program that extends the lock on an interest rate for up to a full 90 days, which provides more time for the home shopping and negotiation process.
The direct lender with locations in 46 states has introduced this product to provide opportunity and support for their borrowers battling low inventory and bidding wars in today’s real estate market. The program also provides a fully underwritten pre-approval with the property address to be determined (TBD). A TBD approval lends additional power over traditional pre-qualifications when presenting an offer.
“This product is going to open doors for many of our customers, providing much needed flexibility considering the current housing supply.” Telle VanTrojen, COO and Partner of Geneva Financial, stated about the announcement. “This is another opportunity for us at Geneva to better serve our communities and give them every advantage on their journey to homeownership.”
In a competitive real estate market, transactions can take longer. Traditional rate locks generally expire in about 30 days, which can put borrowers at risk of losing the initial rate the loan was locked at. This special product from Geneva Financial allows potential homebuyers more time to shop, negotiate and close the loan with the interest rate locked in place.
LockAssure™ provides a full 45 days to find the home, and, if rates improve after the lock, the borrower’s lock improves with it.
With more than 130 branches nationwide, Geneva Financial Home Loans offers countless homebuyer and homeowner-focused products including Conventional, FHA, VA, USDA, Refinance, Reverse, Jumbo Loans and Condo Financing as well as Down Payment Assistance Programs, First-Time Homebuyer Programs, Physician Loans and Hero Loans for First Responders, Police, Firefighters, Nurses, and Teachers.
If you need help navigating the current market, connect with your local Geneva Financial representative to start the conversation and read more about Geneva’s full product lineup at https://www.genevafi.com/loan-products/.
Founded in 2007 by Aaron VanTrojen, Geneva Financial is a direct mortgage lender headquartered in Chandler, Ariz., with more than 130 branch locations in 46 states. To learn more about Geneva Financial, visit www.GenevaFi.com.