Benefits of Using Fairway Mortgage’s Lock, Shop, and Go Program

Plastic home against a teal background with chains and lock around it.

Here at PresGroup Realty, we strive to aid in the home buying and selling process in any way we can. The journey of home ownership can be a long and expensive process, which is why we are here to help. We are excited to provide a remedy to rising mortgage rates which is why we’re proud to collaborate with Fairway Mortgage to bring you the incredible Lock, Shop, and Go program!

Unlike traditional rate lock programs, when you Lock, Shop, and Go with Fairway Mortgage, you are able to lock in a favorable interest rate while still looking for the perfect home. This program leaves home buyers (you) with more flexibility, better rates, more money in their pocket, and most importantly peace of mind.

What Are The Benefits of Lock, Shop, and Go?

One of the most prevalent benefits of using Fairway Mortgage’s Lock, Shop, and Go program is the ability to lock in an incredible rate while taking time to shop for the perfect forever home. Home buyers can take up to 90 days to hunt for their new home while the lower interest rate they’ve locked in remains set in stone. The freedom you will have when shopping around is absolutely necessary for today’s market conditions. While some investors and real estate experts may have varying predictions about how the market will unfold in the coming months, Washington state real estate trends reveal the state will continue to remain one of the hottest markets in the United States in 2022.

Lower Monthly Payments

Our Lock, Shop, and Go program will save you money in the long run, yes, you heard that correctly! By locking in a lower interest rate up-front, you will end up paying less money over the lifetime of your loan. Locking in a lower rate means locking in lower monthly payments!

As mortgage rates continue to climb, the amount you’re able to be prequalified for significantly decreases. This is because a notable portion of your monthly payment will be dedicated to solely paying the interest you owe on the mortgage loan itself. In contrast, a lower interest rate means a smaller portion of your loan will be dedicated to your interest payment.

Enjoy More Property

When you lock in your interest rate early on in the home buying process, you may be able to qualify for a bigger home. The lower the rate, the more money you can spend on the home of your dreams.

Faster Home Buying Process

Not only are you able to shop around without a sense of urgency, knowing you are well taken care of, but you can also close on a home much faster with Fairway’s incredible program. When you decide to Lock, Shop, and Go, you are getting the ball rolling early enough to finalize many steps of the home buying process before you decide on the actual home itself. By the time you choose the perfect future residence and proceed to make an offer, your offer may appear more appealing than most. This is due to the fact that sellers are looking to sell as quickly as possible in today’s housing market.

Fairway Mortgage lock, shop, and go program graphic about combating rising interest rates.

Lock, Shop, and Go!

The Lock, Shop, and Go program is ideal for the undecided buyer. While it is natural to experience nerves, excitement, and a bit of uncertainty when it comes to buying a new home, our program allows you to browse for up to 90 days prior to making an offer. This way, buyers can take their time to decide which home they would like to purchase without feeling overwhelmed and pressured to make a decision sooner than they would like to. Lock, Shop, and Go program gives you the reassurance and peace you want.

Take action by securing a lower interest rate today while shopping for the perfect home for you and your family. Lock in your rate for 90 days* with NO additional fee!