Do not be fooled by National Blowhard lenders on the radio and television claiming to do things that no one else can that we have always done as if they just invented it . For example, We have always offered and continue to offer what has been traditionally known in the industry as a Float Down Option. A Float Down Option now has new cute marketing names at the national lenders. The Float Down Option feature gives mortgage loan officer's the ability to lock their borrowers’ interest rate while the borrower shops for a new home. Even without a formal offer on a property,and provides rate security with 60 or 90-day rate locks. If the rates improve as borrowers’ shop, brokers have the option to float down to the better rate. It has not been necessary in the last number of years until we suddenly began being in a rising interest rate environment., we do not need to have cute little marketing names for it but it is relevant again now