Nuwave Lock & Shop

With no August print from the FED, we expect rates to stay relatively steady over the next 30 days.

In September (21-22), many market experts expect the FED to continue their fight against inflation by adding an additional 50 bps in rate hikes. We will most likely see this rate hike begin to get priced in the market as early as Sep 5th.

To combat the risk of rising rates and the volatile market as a whole, Nuwave Lending has implemented a new program that our Preapproved borrowers can take advantage of - the "Nuwave Lock & Shop".

This program allows borrowers to lock-in their interest rate for 60 days before they go under contract on a home.

This is great for buyers who have a specific deadline to move due to a lease expiration, a new job, or any other reason and are extremely active in the market.

We can lock the rate in at the current market rate for 60 days, and allow buyers to look for the right home. That way, if the FED increases interest rates before a client finds a home, they are not impacted.

To see the benefits of this look at the scenario below:

Purchase Price - $500,000 | Loan Amount - $400,000 (20% Down) | FICO 760 | Single-family Residence | 30-Yr Fixed-Rate

In this scenario, clients will save $126 per month by locking in the rate now instead of waiting on get under contract. This can lift a huge burden off of clients shoulders who may be worried about the rising rates.

There is no charge to the borrower to implement this program. If rates end up decreasing by the time the client goes under contract, we will give the client the lower of the two rates.

This is a program to serve our clients and referral partners through this extremely volatile market.

*Nuwave rates may be higher or lower based on borrower credit and other factors. Please contact me for a custom quote*Estimated payments include loan principal and interest only