Terms, Conditions and Eligibility Requirements:

  • Lock and Look Program (“Program”) will lock your initial interest rate for up to 90 days. To be eligible for the Program, consumer must complete a loan application with Atlantic Bay Mortgage Group, L.L.C. (“Atlantic Bay”) No property address is required when completing the application.
  • Consumer must supply the fully executed purchase and sales contract within 60 days of locking.
  • The Program will allow for a one-time rate reduction (“float down”) option during the 90-day lock period if market rates decline.
  • This Program only applies to home purchases in one of Atlantic Bay’s conventional conforming products including FHA and VA. Excluded are jumbo, bond programs, adjustable rate, construction, and renovation loans.
  • There is an up-front lock-in fee (“Fee”) of .5% of your loan amount*. This fee is due at time of lock. The Fee may vary based on market volatility. The Fee will be credited back at the time your loan closes. If the loan does not close, the Fee may not be refunded to the consumer. In the event your loan is denied, the fee will be refunded to you at the time of denial.
  • This offer only applies to purchase loan applications received after May 31, 2022, and is subject to change at any time.
  • The Program is not a commitment to lend. All loans subject to income verification, credit approval and property appraisal. Information is deemed reliable but not guaranteed. Loan programs, interest rates, and fees are subject to change without notice.

* Your loan amount is the amount you have been approved to borrow with Atlantic Bay