Are you planning on building a new home but worried about how rates might change during construction? The New Construction Rate Lock Loan may be a great option for you.
Why would I want this loan?
- Peace of mind while building your dream home
- Secure a commitment for a lower 5-year Adjustable Rate Mortgage (ARM) rate you can opt in to if the 30-year fixed rate is not desirable at the time of closing, at no cost
Who is this loan for?
- Borrowers who are concerned about the uncertainty of rising or fluctuating rates during the construction period of their new home
Loan Features
- Gives you confidence that you can afford your monthly payment obligations for your new home in an unpredictable market
- Can convert to a 30-year fixed rate up to 60 days before closing if desired
How can I apply for this loan?
Contact any member of our Mortgage Team for more details!
- Call 540-339-3868
- Email mortgages@freedomfirst.com
- Directly reach out to any one of our Mortgage Loan Officers
- Fill out our mortgage contact form
Frequently Asked Questions
Looking for some additional assistance about home loans? See if our FAQs can help!
Down Payment Assistance
We have a variety of down payment assistance programs for people of all walks of life. Speak with one of our experts today to see if you qualify for one of our programs.
Certain conditions and/or restrictions apply. For more details, please contact one of our Mortgage Loan Originators directly. All information provided on this web page is for educational purposes only and is subject to change at any time without notice. For the most up-to-date and accurate terms, conditions, and rates on any given product, please contact Freedom First directly.
We're Here to help.
Our local mortgage experts are just a call or click away if you have any questions about buying or refinancing a home!
Note: The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age, and income of applicants and borrowers; and information about loan approvals and denials. Visit https://www.consumerfinance.gov/hmda.