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Float-Down |
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Float-Down A rate lock, plus an option to reduce the rate if market interest rates decline during the lock period. See Locking the Loan/Lock Versus Float-Down. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Some locks have a float-down feature, which protects the borrower only if the rates rise. |
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