Mortgage   Everything you need to know about mortgages.

#ABCDEFGHIJKLMNOPQRSTUVWXYZ

what is...
FLOAT
Allowing the rate and points to vary with changes in market conditions. The borrower may elect to lock the rate and points at any time but must do so a few days before the closing. Allowing the rate to float exposes the borrower to market risk, and also to the risk of being taken advantage of by the loan provider.

    Courtesy of the Mortgage Glossary
    Copyright © 2006 by 20/20 Technologies