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CCM Lock2Sell: Sell your home fast

What if you could make your home attractive to more buyers for a faster sale, without a lower initial listing price or price reduction later? And what if you could offer an incentive that would save buyers money for the life of their home loan? Sellers can do both with CCM Lock2Sell.

Family standing outside of their new home through CrossCountry Mortgage
Family standing outside of their new home through CrossCountry Mortgage

How does Lock2Sell work?

Lock2Sell is an interest rate buydown agreement between the seller and CrossCountry Mortgage to lock in a lower rate on the seller's property. It’s for the property specified in the contract and cannot be transferred. Single family and 2-4 unit primary residences are eligible.

    The seller:

  • Agrees to pay 1-9% of the sales price to buy down the rate
  • Pays a refundable fee to lock in the discounted rate
  • Rate is locked for up to 60 days
  • Can advertise the lower locked rate in their home's marketing materials
An image of a living room in a new home through CrossCountry Mortgage
An image of a living room in a new home through CrossCountry Mortgage

Example scenario

Here’s an example of the way Lock2Sell works:

Home Purchase Amount: $400,000
Down Payment: $100,000 (25%)
Home Loan Amount: $300,000
Market Rate: 8.65% (8.736% APR)
Rate with a 3% Lock2Sell commitment: 7.000% (7.094% APR)

Rate listed is based on purchase price of a 1-4 unit property, 740 FICO score, 60-day rate lock, 25% down (75% LTV), 30-year fixed-rate Conventional loan. The following property types may affect the interest rate and pricing reflected above: manufactured homes, condos and 2–4-unit properties. All terms are subject to change without notice. Loans are subject to underwriting guidelines and applicant’s credit profile, not all applicants will be approved. Other restrictions apply. Contact for full details. Rate as of 4/23/2024.

Advantages for sellers: Fast home sales

By offering a lower mortgage interest rate, sellers can attract a larger pool of potential buyers, resulting in a faster sale. The competitive advantage over other types of seller concessions is that the locked rate can be advertised up front, including on the MLS. It can cost less than a price reduction while offering greater benefits.

Advantages for BUYERS: Lower mortgage interest rates

Buyers can stop waiting for rates to fall. A Lock2Sell property offers a mortgage with a discounted rate. This is a permanent rate reduction that lasts the life of the loan, bringing savings to the buyer every month. And buyers don’t have to wait to make an offer and start negotiating a contract to know if the seller is willing to compromise. They know up front that they can get a lower rate that may help them meet loan requirements that could otherwise put their home purchase out of reach.

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Lock2Sell FAQs

Here are answers to a few questions you may have, but as with any home financing, your loan officer is your best resource.

Get started with Lock2Sell

If you want to sell your home fast, it’s time to Lock2Sell. We’re ready to explain the details, demonstrate the advantages, and answer your questions. Talk to us today.