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INTEREST RATE LOCK IN AGREEMENT

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					DATE:__________
LOAN NUMBER:_______________
APPLICANT(S):_________________________________________________________

PROPERTY ADDRESS:_______________________________________________

                           INTEREST RATE LOCK IN AGREEMENT

Term: Fees: Origination:__________% $_______________
Loan Amount: $_____________ Discount: __________% $______________
Program-Name/Code: Buydown: _________% $______________
        Type: Conv              _________%    $______________
                                      _________%    $______________
                          TOTAL FEES: _________%    $______________

In this Agreement the words "I", "Me" or "My" mean all of the applicants who signed below. The words "You" or
"Your" mean the Lender.



( ) I DO NOT WANT AN INTEREST RATE LOCK IN AT THIS TIME.
          I understand that the Lender cannot predict interest rate changes. If I want to obtain an interest rate
          commitment in the future, I may do so at any time up to three (3) business days before my scheduled
          settlement by signing an Interest Rate Lock-In Agreement like this one. The Agreement will be subject
          to the Lender rate commitment policy in effect on that date. I understand that it is my responsibility to
          advise the Lender of my decision to lock-in, and that if I do not obtain an interest rate commitment, the
          interst rate and Total Fees on my loan (if approved) will be set by the Lender within three (3) business
          days before my settlement.




() I DO WANT AN INTEREST RATE LOCK IN AT THIS TIME

          A. My guaranteed interest rate will be ____________________%
          B. The "Total Fees" to be paid at settlement will not exceed the amount shown above. This total
             does not include settlement costs such as title insurance, tax and fire insurance escrows,
             survey, etc.
          C. This agreement will end on ___/___/___ (called the "Ending Date"). The guaranteed interest rate
             and guaranteed Total Fees above are good only up to the Ending Date. After the Ending Date,
             the interest rate and Total Fees will, unless I obtain a new interest rate commitment, be set by
             the Lender within _________ business days before my settlement.

          D. Interest Rate Lock-In Fees: _____________% ($__________________)




   IMPORTANT TERMS AND CONDITIONS OF THIS AGREEMENT - PLEASE READ CAREFULLY

          I. If my loan application is approved AND my loan settles by the Ending Date, my Interest Rate Fee
              will be credited against the Total Fees shown above.
          II. My Interest Rate Lock In Fee WILL be refunded to me ONLY if:

                  •    In the event a lock-in agreement is executed and the loan applied is denied, the
                       lender shall promptly refund any lock-in fee paid.
                 •   I may rescind a Lock-In sent by mail anytime prior to receipt of Lock-In.
                     (Rescission must be in writing.)


         III. My Interest Rate Lock in Fee WILL NOT be either refunded OR credited against the Total Fees
              AND my Rate and Total Fee guarantee will be VOID if:

                 •   I will not receive any refund if my mortgage is approved and I fail to close or
                     cancel my application; OR
                 •   I provide any significantly inaccurate information or omit any significant
                     information, whether in my application or otherwise; OR
                 •   I change the type, term, or amount of the loan for which I have applied; OR
                 •   I have paid the Interest Rate Lock in Fee by check and the check is refused for
                     payment.
                 •   I withdraw my loan application.

         IV. I may not assign my guaranteed interest rate, my Total Fees guarantee or my Interest Rate Lock
             in Fee to any other person.
         V. The Lender is not responsible for any delay in settlement due to delays in construction by a
             builder or third parties such as appraisals, credit reports, and title insurance. THE LENDER will
             make a good faith effort to process the mortgage loan application and stand ready to fulfill
             the term of its commitment before the expiration date of the lock-in agreement and any
             extension thereof.
         VI. If my Lock-In Rate expires, I understand that the Lender is under no obligation to renew the Lock-
             In. In the event that the Lender agrees to renew the Lock-In, the Lock-In Rate will be the higher
             of: a) The Current Mortgage Rate; or: b) The Original Lock-In Rate.



ACKNOWLEDGEMENT
I UNDERSTAND THAT THIS INTEREST RATE LOCK-IN AGREEMENT IS NOT AN APPROVAL OF MY LOAN
APPLICATION OR A COMMITMENT BY THE LENDER TO MAKE ME A LOAN. I WILL RECEIVE A LETTER
TELLING ME WHETHER MY LOAN APPLICATION HAS BEEN APPROVED OR DENIED.
This “Interest Rate Lock-In Agreement for New Jersey” is not valid unless I have completed the lock-in form,
submitted the “Complete Application Form” online, paid the application fee & lock deposit if locking, and
acknowledge below by typing in my name. I also understand that the rate and points requested are not
guaranteed until I have received a CONFIRMATION NUMBER from THE LENDER.



 I have carefully read and understand the above information.


                                                                ____________________________
                                                                APPLICANT              DATE


                                                                ____________________________
                                                                APPLICANT              DATE

				
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