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Interest Rate Lock Agreement

The document is an interest rate lock agreement between borrower Sarahi Hernandez and The Huntington National Bank for a $180,097 FHA fixed rate loan at 3.125% to purchase a property at 9805 E 16th St in Indianapolis, IN. The rate is locked until December 20, 2021 at 11:59 PM EST with no lock fee or discount points. The lock is contingent on approval of the loan application and closing by the expiration date, and the terms may change if closing occurs after that date. Hernandez acknowledged and agreed to the terms.

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Sarahi Alvarenga
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395 views

Interest Rate Lock Agreement

The document is an interest rate lock agreement between borrower Sarahi Hernandez and The Huntington National Bank for a $180,097 FHA fixed rate loan at 3.125% to purchase a property at 9805 E 16th St in Indianapolis, IN. The rate is locked until December 20, 2021 at 11:59 PM EST with no lock fee or discount points. The lock is contingent on approval of the loan application and closing by the expiration date, and the terms may change if closing occurs after that date. Hernandez acknowledged and agreed to the terms.

Uploaded by

Sarahi Alvarenga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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INTEREST RATE LOCK AGREEMENT

Date: NOVEMBER 5, 2021 HERNANDEZ


Loan #: 00010430452
Serv. #: 00010430452
Lender: THE HUNTINGTON NATIONAL BANK

Borrower(s): SARAHI HERNANDEZ

Property Address: 9805 E 16TH ST, INDIANAPOLIS, IN 46229

FLOAT INTEREST RATE


You have elected to float your interest rate which means that your interest rate and points are subject to change at anytime and may be
lower or higher at the time you request to lock-in your interest rate. Thus, no interest rate will be held for you. You can lock your
interest rate at a later time upon request based on the prevailing market terms at that time. You will need to lock-in at least five
calendar days prior to the settlement date. It will be your responsibility to monitor our current loan terms to determine when you wish
to lock in.

LOCK-IN INTEREST RATE


In consideration of your application for credit with THE HUNTINGTON NATIONAL BANK, and at your request, THE
HUNTINGTON NATIONAL BANK hereby agrees to lock in the currently available interest rate and discount points pending the
processing, underwriting, and approval of your loan application. The loan terms hereby locked in are as follows.

Loan Amount: $180,097.00

Rate: 3.125%

For Adjustable Rate Loans (ARM's), the rate shown above is the
Loan Type: FHA Fixed initial interest rate.

Origination Fee: $0.00

Term of Loan: 360 months

Long-term Lock Fee: $0.00

Discount Points: $0.00

12/20/2021 11:59 PM
Lock Expiration Date: EST

Lender will collect the long-term lock fee shown above only after you have received a Loan Estimate and expressed your intent to
proceed with the transaction. The long-term lock fee will be refunded to you if your loan application is denied, unless the reason for
the denial is your failure to timely provide Lender with information it needs to underwrite the loan. Unless otherwise required by
applicable law, the long-term lock fee IS NOT REFUNDABLE.

This Interest Rate Lock Agreement is not a commitment to lend. The availability of the locked-in terms is contingent on approval of
your application and on your loan closing by the Lock Expiration Date. LENDER IS UNABLE TO GUARANTEE THAT YOUR
LOAN (IF APPROVED) WILL BE CLOSED BY THE LOCK EXPIRATION DATE. Lender must complete underwriting and
formally approve your application before your loan can close. You can help prevent delays by responding promptly to information
requests and by ensuring that your employer, creditors, and depositories promptly answer Lender's information requests. Unless
Lender has agreed to extend the lock period, if your loan will close after the Lock Expiration Date it will close at the GREATER of
the Lender's then-prevailing terms or the original locked terms. If Lender agrees to extend the lock period, it may charge an additional
lock extension fee.

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HL000104304521218801
00010430452 00010430452

By signing below, you acknowledge receipt of this agreement and agree to its terms.

11/26/2021
- BORROWER - SARAHI HERNANDEZ - DATE -

12188.117 Page 2 of 2

HL000104304521218802

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