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NON-PRICE RATE LOCK EXTENSION REQUEST Lock Request Instructions: Broker to submit lock extension request to lockdesk@acralending.com. A lock extension request must be received prior to the initial
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How to fill out non-prime rate lock extension
How to fill out non-prime rate lock extension
01
Contact your lender to inquire about extending your non-prime rate lock.
02
Provide any necessary documentation requested by the lender, such as updated financial information.
03
Review and sign the extension agreement provided by the lender.
04
Make any required payments or deposits to secure the rate lock extension.
Who needs non-prime rate lock extension?
01
Borrowers who have a non-prime mortgage with an upcoming rate lock expiration may need a rate lock extension to secure their current interest rate for a longer period.
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What is non-prime rate lock extension?
Non-prime rate lock extension is an option offered to borrowers to extend the interest rate on their loan past the original lock period.
Who is required to file non-prime rate lock extension?
Borrowers who have not closed on their loan by the original lock expiration date are required to file a non-prime rate lock extension.
How to fill out non-prime rate lock extension?
To fill out a non-prime rate lock extension, borrowers should contact their lender to request the extension and provide any necessary documentation.
What is the purpose of non-prime rate lock extension?
The purpose of a non-prime rate lock extension is to allow borrowers more time to finalize their loan and secure the original interest rate.
What information must be reported on non-prime rate lock extension?
The non-prime rate lock extension must include the borrower's name, loan number, original lock expiration date, requested extension period, and any supporting documentation.
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