Prism Mortgage Company is a mortgage banker and broker. We have the ability to originate, underwrite, and close our own loans as well as shop many different lenders for the best first time homebuyer programs . Submit your documentation. If you have a pre-approval with a lender, your documents are good for at least 120 days with that lender. Check interest rates.
Interest rates tend to fluctuate daily.
Frequently, you should get updates on rates by checking posted rates and contacting your loan officer. If interest rates are low, you may ask your lender to lock in a rate. Otherwise, you can choose to float but you may end up with a lot higher rate than expected. Ask about float-down option and shop and lock program . Choose a loan.