Click here for 
Rate Lock Program?
Lock Option
With the Lock Option, you will always know what your interest rate and mortgage payment will be. This option guarantees, that no matter what interest rates may do during your application process, your rate is guaranteed. There is no cost for the is option. Even better, no sleepless nights wondering what interest rates will do. Interest rate locks range from 15 days to 60 days.
Float Option
The Float Option lets you pick which day to lock your interest rate during the application process. Under this option there is some uncertainty. You assume all interest rate risk, good and bad. You benefit from interest rates lowering, and you are vulnerable if interest rates rise.
Extended Rate Lock Option
At Grand Oak Mortgage, you can choose one of our extended interest rate locks geared specifically for the new construction process. This option offers you interest rate protection during the entire construction process.
Depending on your construction time, you may elect up to a 6 month extended interest rate lock. This program guarantees the borrower a ceiling rate. A rate for which no matter how high rates may rise, you have a guaranteed rate. In addition, this program offers a float down feature.
This float down feature enables you during the last 90 days of the extended rate lock period to: 1) re-lock at a lower rate 2) switch financing programs 3) change cost structures. All of these features together give you a great deal of financial flexibility. The extended rate lock program is offered only on fixed rate products. The cost of the extended rate lock program is 1% of the loan amount, which is refundable if the loan closes within 180 days of the rate lock.
Click on the image above to play the video.
"Our Loan Officer and Loan Processor were great to work with, they were pleasant and helpful" - Mr. & Mrs. Pulliam
"The staff went up and above any of our expectations. Explaining everything step by step, very professional and helpful" - Dale Gohn & Kristie Tickle
"As a first time home buyer I was very unclear on what was involved in applying for a mortgage and what points and closing costs really were. Grand Oak Mortgage Company took the time to explain and educate me and my wife on the entire mortgage process" - Mr. & Mrs. Zlotnik
"Thank You Grand Oak Mortgage, my loan experience was all that you said it would be, fast and hassle-free" - Mr. & Mrs. Babcock
"Grand Oak Mortgage was great to deal with. Everytime, I spoke with them they were very upbeat and happy. It was a real pleasure dealing with such a great staff. They were very patient with me even when they had to explain things to me twice" - Mr. Passalacqua
"My Loan Officer was very helpful and all for us, she gave us insight into the ins and outs of the business" - Mr. & Mrs. Gonzalez
"Grand Oak Mortgage was very helpful, we want to thank them for getting us in our house. Very good company, who cares about their clients" - Mr. Zak
"With all the different loans programs available I didn't know the best program for me. With the help of my Grand Oak Mortgage Company Loan Officer I ended up with a loan program that saved me nearly $100/month on my house payment" - Mr. & Mrs. Wink
"The staff went up and above any of our expectations. Explaining everything step by step, very professional and helpful" - Dale Gohn & Kristie Tickle
"As a first time home buyer I was very unclear on what was involved in applying for a mortgage and what points and closing costs really were. Grand Oak Mortgage Company took the time to explain and educate me and my wife on the entire mortgage process" - Mr. & Mrs. Zlotnik
"Thank You Grand Oak Mortgage, my loan experience was all that you said it would be, fast and hassle-free" - Mr. & Mrs. Babcock
"Grand Oak Mortgage was great to deal with. Everytime, I spoke with them they were very upbeat and happy. It was a real pleasure dealing with such a great staff. They were very patient with me even when they had to explain things to me twice" - Mr. Passalacqua
"My Loan Officer was very helpful and all for us, she gave us insight into the ins and outs of the business" - Mr. & Mrs. Gonzalez
"Grand Oak Mortgage was very helpful, we want to thank them for getting us in our house. Very good company, who cares about their clients" - Mr. Zak
"With all the different loans programs available I didn't know the best program for me. With the help of my Grand Oak Mortgage Company Loan Officer I ended up with a loan program that saved me nearly $100/month on my house payment" - Mr. & Mrs. Wink
*We are proud to announce that all of our Loan Officers are S.A.F.E. act compliant.
