Replace Dropdown List in the Interest Rate Lock Agreement and eSign it in minutes

Aug 6th, 2022
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How to Replace Dropdown List in the Interest Rate Lock Agreement

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in Excel you can create dependent drop-down lists here for example you can select a type of produce so Ill select fruit and then in this drop-down we see a list of fruit if I select vegetables the next cell shows just the list of vegetables these are based on lists on another sheet so heres the list and this is the produce category and then we have a list of fruit and you can see its name here is fruit and here is a list and thats the vegetable list so to set that up we use data validation and on these cells if I go to the data tab and click data validation we can see that were allowing a list and the list is equal to produce in this group of cells going back to data validation again were allowing a list and this time we use the function indirect and then a reference to the cell to the left which is b2 so were saying create a range based on whatever name is in cell b2 and thats what the indirect function does it creates a range reference well click OK now this works well most o

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If your rate is locked, it can still change if there are changes in your applicationincluding your loan amount, credit score, or verified income.
When you lock your interest rate, youre protected from rate increases due to market conditions. If rates go down prior to your loan closing and you want to take advantage of a lower rate, you may be able to pay a fee and relock at the lower interest rate. This is called repricing your loan.
The six items are the consumers name, income and social security number (to obtain a credit report), the propertys address, an estimate of propertys value and the loan amount sought.
Change in circumstance definition Finally, a changed circumstance may be the discovery of new information specific to the consumer or transaction that the lender did not rely on when providing the original disclosures.
The general rule: Creditor must deliver or place in the mail the revised Loan Estimate/Closing Disclosure to the consumer no later than three business days after receiving the information sufficient to establish that a Changed Circumstance has occurred.
Common reasons you may receive a revised Loan Estimate include: The home was appraised at less than the sales price. Your lender could not document your overtime, bonus, or other irregular income. You decided to get a different kind of loan or change your down payment amount.
A changed circumstance affecting settlement charges, including: An extraordinary event beyond the control of any interested party or other unexpected event specific to the consumer or transaction.
Can my loan amount change after the rate lock? No. Your locked-in rate applies to your loans specific details including your loan amount so you cant change the loan amount after locking in.

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