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Fulton Bank
Fulton Bank

Rate Cap Program

Protect yourself against rising interest rates.

Whether you’re buying or building a home, you can protect yourself against fluctuating interest rates with our Rate Cap program.

Eliminates the effects of fluctuating interest rates.

Interest rates are rising and buyers are now facing a one-two punch: a red-hot housing market and rapidly rising rates. Our Rate Cap program allows you to finance your home with the security of knowing that you can lock in a fixed rate or float down your rate before closing if interest rates fall.

  • Lock in a mortgage rate for up to one year. In a competitive housing market, you need flexibility. Our Rate Cap program allows you to lock in a fixed or adjustable rate for up to one year with various term options on conventional, construction, or jumbo loans. 
  • Float down your rate. If the current rate is lower than the locked in rate, your rate is brought down so that you get a better rate on your mortgage.
  • Refundable fee can be applied to buy the rate down, or toward closing costs. A 1% upfront fee is refunded upon settlement and can be used toward closing costs or applied to buy the rate down if rates fall.

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Start the application process

It's easy to take the first step toward your new home. Use our online application to apply today. View our homebuying document checklist before applying to make the application process easier.