Protects a borrower from rising rates between the time of applying for a loan and closing the loan. This can be a "locked" rate, which remains the same until closing, or a "float-down" rate, which allows for declining rates if the market declines. The protection only lasts for a certain time.
Related information about rate protection:
- Rate Protection - Financial Dictionary - The Free Dictionary
In an adjustable-rate loan, a period of time during which one's interest rate may not rise if prevailing interest rates rise. However, rates may drop in that time ...
- Interest Rate Protection Agreements - Minnesota Office of Higher ...
agreements, or other comparable interest rate protection agreements with a third party in connection with the issuance or proposed issuance of bonds, ...
- 2011 BAH: Rate Protection Stops Pay Drop for Many
Dec 15, 2010 ... Because of rate protection, only members arriving after Dec. 31 to areas where rents have fallen will feel the effect of lowered allowances.
- 2010 BAH Rate Protection
The Basic Allowance for Housing, or BAH for short, is a military benefit that comes in handy when applying for an FHA loan or VA home loan because it provides ...
- Interest Rate Protection
Interest Rate Protection. While borrowing money from a bank or other financier can seem relatively straightforward, the process actually involves quite a few ...
- Jumbo Mortgage Rate Protection - Citi Mortgage Benefit Program
Certain conditions apply: (i) The Rate Protection option may only be exercised (a) after the first monthly payment due date as specified in the Note and (b) before ...
- BAH Rates: Individual Rate Protection Clause
Individual Rate Protection is a clause recognizing that current BAH recipients agreed on rate terms based on certain conditions, and the terms remain the same .
- Lifetime Rate Protection Guarantee - Optimum First Mortgage
Lifetime Rate Protection Guarantee. Optimum First Mortgage's Lifetime Rate Protection Guarantee allows for a no closing cost refinance, if rates should fall, after ...