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Smart Lock

Make home shopping easier and a lot less stressful with a set budget in mind with Smart Lock from Draper and Kramer Mortgage Corp.. You can lock in a great rate today, before you even have a property selected, and take until September 30, 2017 to close.

  • No Address Needed
  • Shop Until September 30, 2017

Smart Lock is a great option when you want some security in a rising interest environment. A property is not needed at the time of lock. Once a property is selected, the loan becomes a normal lock and the address cannot be changed without following standard relocking rules.

There’s no need to worry that your budget will break if mortgage rates jump up while you shop for the perfect home if you have Smart Lock from Draper and Kramer Mortgage Corp.

Smart Lock includes a rate cap of 0.75% to the current 55 day rate to help protect you should rates jump up while you're shopping.

There is also a one-time float down option, so you can grab a lower rate if the market drops. The float down can be taken within 55 days of closing as long as the file is approved and you have a property address.

You can get Smart Lock on government and conforming fixed rate loans with a maximum loan amount is $417,000; there is no minimum loan amount. The loan amount on any loan type cannot increase by more than 10% of original locked loan amount. There is no limit on the loan amount decreasing.

For more information or questions on Smart Lock, please contact us any time.

This program is not available in Oregon. Sales contract must be signed by September 30, 2016. The loan must close by November 30, 2016. The rate lock can be extended for 15 Days for a 1/4 Point, for up to a total of 2 months. A new lock agreement must be executed at the time the float down option is exercised for all loans in Colorado.