Long Term Lock & Float Down Option

Unlock your home-buying potential by locking in a great interest rate for up to 9 months! Additionally, float-down to a better rate if the market improves!

With increasing rates forecasted for the home-buying market, First Bank is proud to announce a program to help protect you from rising rates by locking in for up to 270 days!

Our rate lock will guarantee you a specific interest rate on your mortgage for up to 270 days.

This ensures that you keep the rate you locked in through your selected lock period, in case interest rates begin to rise.

Additionally, you may have the ability to float your rate to a lower rate under certain conditions if the market happens to improve.

Eligible Products

• Conforming 30 yr/25yr Fixed Loans
• Conforming 15 yr Fixed Loans
• Government 30 yr Fixed Loans

Up-Front Fee

1 % of the loan amount is required as an up-front fee. Up to 100 % of the up-front fee may be
refunded at closing.

For a full list of exceptions and guidelines, please reach out to your First Bank Loan Officer.