If you plan to go to contract within three months of obtaining an Ark Certified Pre-Approval, you can further reduce the stress of the homebuying process by purchasing Rate Protection for a refundable* fee of $995. When you purchase Ark’s Rate Protection, you can lock in your rate for 90 days. You’re protected if rates increase. And if rates decrease, you can take advantage of the lower rate.
* The Rate Protection Fee:
- Will be credited against your closing costs if the loan closes within 12 months of purchasing Ark’s Rate Protection.
- Will be refunded if all of the Final Conditions have been satisfied and Ark cannot, or Ark does not, enable the loan to close.
- Will not be refunded if the loan fails to close because one or more of the Final Conditions have not been satisfied.
- Will not be refunded even if all of the Final Conditions have been satisfied but you choose not to close.