Peace Of Mind.
At George Mason Mortgage our goal is to provide you with peace of mind and eliminate any concerns about rising rates when you purchase a new construction home. Our Extended Rate Protection program options offer you the best of both worlds, long-term rate lock protection up to 270 days with the ability to float down to a lower rate at any time two weeks prior to closing.1
- Up to 180 day lock options with a refundable deposit, applicable at closing.
- 270 day lock with a non-refundable fee.
- Additional lock extensions are available.
- Interest Rate Float Down options available if rates lower.
- All your Construction lending needs under one roof with decades of experience.
Trusted by Builders. Reputation is everything and builders know we get the job done.
If you have your eye on a newly constructed home or a home that’s nearly complete, contact us today about a home loan for newly constructed homes.
The Extended Rate Protection pricing will vary based upon the length of lock. A deposit is required at application. Up to 180 day lock deposit is refundable and applicable to closing costs. Up to 270 day extended rate locks require a 1.00% non-refundable fee. District of Columbia rate lock fees are refundable if the loan does not close. The Extended Rate Protection feature is not available under all programs. 1. The applicant may renegotiate their interest rate one time at least 10 days prior of settlement if rates improve by at least .25%. Additional terms and conditions may apply.
Benefits of Buying a New Home