- The lock may be for 60 or 75 days, but you must deliver an executed purchase agreement to iLoan within 25 days of the lock date to maintain the lock. The initial lock confirmation will reflect only a 30 day lock, but once the purchase agreement is received, an updated lock confirmation will be delivered to you reflecting the remaining days of the initial lock (to the 60th or 75th day, as applicable).
- Offered only on conventional conforming fixed rate, conventional conforming high balance fixed rate, VA fixed rate, USDA, FHA fixed rate, and FHA jumbo fixed rate products.
- Available for purchase transactions only.
- There is no up-front fee required.
- A .25 point price adjustment (0.25% of the total loan amount) to our 60 or 75-day price will be reflected in the price of the lock, in addition to any other applicable loan level price adjustments.
This program isn’t for everyone but it’s another way that iLoan tries to innovate to meet the demands of their clients and Realtor partners.
Tom Garrity – Manager, Mortgage Loan Officer
[Ed. Note: Tom has been in the mortgage industry for almost 10 years. He is currently licensed in Minnesota and Wisconsin. He always keeps his clients best interests in mind. Tom provides the highest level of customer service and brings abundant technical knowhow to the lending process. In addition to being our manager at iloan he is the source of many laughs. Tom believes a stress free atmosphere in the office environment is a productive one. He wants his clients to enjoy the experience throughout the transaction process.
Tom considers sales to be fun. However, it is knowledge, creativity, character, resourcefulness and hard work that gets the deal to the closing table. In the end creating new client relationships while providing premier service to our existing clients is the mission of his business. Tom is constantly challenging himself to deliver superior products with absolute precision and prompt customer service as his never-ending goal.
When not working, Tom is golfing, fishing, in Florida or harassing friends and co-workers over e-mail and instant messengers.]