Reeling in Hesitant Buyers Assessing the “Old” Competition New: Tailor-Made Caps for Your Buyers

August/September 2007 New: Tailor—Made Caps for Your Buyers A fitted cap can provide just the protection needed to weather unpredictable climate shifts. That's why Countrywide has redesigned its exclusive Builder Rate Cap program to provide custom-fit features that can help your buyers guard against interest rate hikes—and help you seal more deals. Recent enhancements deliver greater flexibility in the fee schedule, so the rate lock feature may be personalized to meet your individual buyers' needs without changes to the actual loan value. The new program offers choices for the loan term, the lock-in fee amount, the percentage of fees applicable to closing costs, and the loan type—all of which are used to determine the interest rate cap. This means your qualified buyers are empowered to secure the rate protection that fits their unique situation, while you are armed with another tool that helps save your sales from falling through. New-and-improved features of Countrywide's Builder Rate Cap program include:1 · Lock-in periods of 4, 6, 9, 12, 14, 18 or 24-month terms (and even longer on an exception basis) · Competitive up-front lock-in fees of 0.25% to 1.5% with no limitation on the lock-in amount · Borrowers have the ability to “float down” to the current market rate before closing · New float-down options allow borrowers to obtain pricing more closely related to the current market, so there is no need to buy excess lock time · Borrower may choose when and how much of their lock-in fee is applicable to closing costs when the loan funds · Available on many loan programs, including non-conforming, conventional fixed, adjustable, government, and Payment Advantage programs For more information on how this powerful program could help you attract buyers and turn more inventory, call me today. 1. Time limits and other restrictions may apply.