Extended Rate Protection


Extended Protection

New Construction - House
New Construction - House


Extended Protection

Peace Of Mind.

At United Bank, our goal is to provide you with peace of mind and eliminate any concerns about rising rates when you purchase a new construction home. Our Extended Rate Protection program options offer you the best of both worlds, long-term rate lock protection for up to 270 days with the ability to float down to a lower rate at any time two weeks prior to closing.1


If you’re worried about interest rate changes while your home is being built, find out how our newly Extended Rate Protection program can help protect you while your new home takes shape.

  • Up to 180 day lock options with a refundable deposit, applicable at closing.
  • 270 day lock with a non-refundable fee.
  • Additional lock extensions are available. 
  • Interest Rate Float Down options available if rates lower.
  • All your Construction lending needs under one roof with decades of experience.

Benefits of Buying a New Home

  • Personalization: Customize or upgrade finishes and make your new home, your own.
  • Save Money: New appliances and home systems, plus more efficient insulation and windows are less expensive to heat which translates into lower utility bills.
  • Less Maintenance: Today's new homes are engineered specifically to minimize maintenance requirements.
  • Trusted by Builders. Reputation is everything and builders know we get the job done. If you have your eye on a newly constructed home or a home that’s nearly complete, contact us today about a home loan for newly constructed homes.
young couple discussing documents

The Extended Rate Protection pricing will vary based upon the length of lock. A deposit is required at application. Up to 180-day lock deposit is refundable and applicable to closing costs. Up to 270-day extended rate locks require a 1.00% non-refundable fee. District of Columbia rate lock fees are refundable if the loan does not close. The Extended Rate Protection feature is not available under all programs. 

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1. The applicant may renegotiate their interest rate one time at least 10 days prior of settlement if rates improve by at least .25%. Additional terms and conditions may apply.

United Bank is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Reserve, Federal Reserve Consumer Help, PO Box 1200, Minneapolis, MN 55480.
This is not a commitment to lend. Mortgage products and services are offered through United Bank. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required.  Speak with a Mortgage Loan Officer for more specific information.
United Bank and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.