Lender launches Rate Secured program
Churchill Mortgage customers can now lock-in a mortgage rate for 90 days while they search for their dream home.
The privately-held lender, based in Nashville, provides conventional, FHA, VA and USDA residential mortgages across 46 states, and has launched it Rate Secured program.
“More than ever, borrowers need services such as these to help them make smarter mortgage decisions,” said Tom Gillen, SVP of Secondary Marketing for Churchill Mortgage. “Coupled with our Certified Homebuyer Program, Rate Secured allows borrowers to shop for their dream home with the confidence that their loan will close seamlessly, and at a rate they can plan around.”
The program enables borrowers to reset the rate if they haven’t found a home within 90 days and if the mortgage rate decreases during the lock-in period they will receive the lower rate at closing.
“In today’s rising interest rate environment, buyers are more hesitant to enter the market and are appropriately cautious towards any future changes,” said Mike Hardwick, founder and president of Churchill Mortgage. “Through Churchill’s ‘Rate Secured’ program, we are empowering borrowers to better plan their home searches by eliminating any surprises relative to their financing – all of which helps ensure a smarter mortgage process and better borrower experience.”