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David Carson

(405) 715-3100

Residential Mortgage Loan Originator

NMLS# 720764

About Me

I have lived my entire life in Oklahoma City, attended Putnam City High School and Oklahoma State University. I am blessed to have been married, for 30 years, to the best woman in American (personally nominated by me). I am additionally blessed with two awesome children and two beautiful grandchildren. When I am not working, I enjoy attending OSU athletic events and will play a round of golf or two when time allows.I have been in the financial services industry for the last 20 years. For the last 14 years, as a Home Mortgage Consultant in the Oklahoma City area. Prior to my position as a Home Mortgage Consultant I was the Regional Marketing director for the Lewer Agency. As Regional Marketing Director, I was responsible for overseeing the financial and insurance planning for our client business owners in Oklahoma, as well as, managing six registered representatives covering ten states. My goal, as a Home Mortgage Consultant, is to strengthen the realtor/builder - client relationship by applying my knowledge of personal financial planning to each client's overall goals and objectives to recommend the loan product that best meets their individual needs. By focusing on customer needs I have been honored to be named a 5 Star Mortgage Professional, by Crescendo Business Services, based on a survey of over 44,000 recent home buyers, mortgage lenders, and title companies.With the complexity of products and ever-changing industry guidelines, the loan officer you chose has become as crucial as the home you choose. I am proud to have been blessed with the best loan processing team in the industry.For over 20 years Our mortgage team has stood for reliability, integrity and pioneering products and services. We offer a vast array of home financing solutions to meet individual home buyer needs.


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What Is a Mortgage Rate Lock?

A mortgage rate lock can be an important tool for homebuyers. Basically, a mortgage rate lock is an arrangement between a lender and a borrower in which a mortgage's interest rate is locked for a certain period of time. Typically, the locked-in rate will be the current market interest rate.

Some lenders choose to charge borrowers a lock fee if they choose to lock in the interest rate. Also, it's common for lenders to start at a higher rate in case the homebuyers do not exercise their options to lock in a rate.

When a borrower and lender agree to a mortgage rate lock, it is important that both parties are bound by the agreement. This agreement would mean, for example, that the borrower could not unlock the rate because the market interest rate had lowered. Interest rates will usually be locked from the moment that the mortgage is offered until it is closed.

Unless a change occurs to the loan application, the interest rate will stay the same and will not be affected by market changes. Changes to the mortgage application, such as an increased loan amount or an updated credit score for the borrower, can result in the interest rate changing. Interest rates can also change if the home is appraised at a higher or lower amount than expected, or the borrower changes the type of mortgage for which they are applying.

Mortgage rate locks have some drawbacks from the borrower's standpoint. For example, if the market rate falls during the term of the mortgage, a borrower would not be able to take advantage of these lower rates. The same would be true for lenders if the market rate rises.

A lock deposit can be a good way to make sure that both the borrower and the lender hold to the terms of the mortgage lock agreement. This deposit shows that both parties are committed to upholding the agreement. A loan estimate and a rate lock can be issued at the same time, and the period of the mortgage rate lock can be between 10 and 60 days. A longer rate lock period typically means that the borrower and lender have agreed to a higher interest rate.

 

 

The Loan Process


About

I have lived my entire life in Oklahoma City, attended Putnam City High School and Oklahoma State University. I am blessed to have been married, for 30 years, to the best woman in American (personally nominated by me). I am additionally blessed with two awesome children and two beautiful grandchildren. When I am not working, I enjoy attending OSU athletic events and will play a round of golf or two when time allows.I have been in the financial services industry for the last 20 years. For the la ...

 

Contact Me

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David Carson - NMLS: 720764
3428 S Boulevard
Edmond, Oklahoma 73013
Phone: (405) 715-3100
Cell Phone: (405) 361-9196
Email: dcarson@goldwaterbank.com

 

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All rates and programs subject to change without notice. An equal housing lender. NMLS #452955
A division of Goldwater Bank.