– Fixed rates must drop by at least 50 basis points
– ARM rates must drop by at least 62.5 basis points
– Rate drop must occur 7 business days prior to closing
– Loans with Mortgage Insurance not eligible
– Minimum loan amount $300,000.00
– Maximum loan amount $1,149,825 ( Non Conforming and Jumbo Loans not eligible)
– Loans with 2nd Liens or Subordinations not eligible
– Eligible for Single Family and Townhouses only
