Lock in the Rate
If you plan to go to contract within three months of obtaining an Ark Certified Pre-Approval, you can reduce the stress of the homebuying process by purchasing Rate Protection for a refundable* fee. When you purchase Ark’s Rate Protection, you lock in your rate for 90 days. That protects you if rates increase. And if rates decrease, we’ll get you 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.