Principle Lending

Principle Lending, Its Successors and/ or assignees, 101 Winston Way, Suite E, Campbellsville, KY 42718

Principle Lending, Its Successors and/ or assignees, 101 Winston Way, Suite E, Campbellsville, KY 42718

- Extensions must be requested on or before the lock expiration date.
• Extensions may be granted up to a maximum of 30 days total on Agency and Government products. The maximum lock period is 90 days total. A maximum of two (2) extensions are allowed.
• Extensions costs are calculated on a per-day basis. Each day the loan needs to be extended will cost 0.020 per day on all products.
Example: A 7-day extension will cost 0.140.
- Locks requiring more than 30 days of extensions, extension requests beyond the two (2) allowable extensions, or extensions beyond 90 total lock days will be at the sole discretion of capital markets as to eligibility and pricing.

- If a loan expires and needs to be re-locked, worst- case pricing applies. A relock is priced at the worst of; the existing lock with a Relock Fee of 0.25, or the worsened market plus a Relock Fee of 0.25. The worsened market is determined by comparing the base price of the original lock to the current day’s same lock term base price.
• With any re-lock under 30 days from expiration, all existing extension costs will remain with the lock.
• If a lock has been expired more than 30 calendar days, the new lock will be priced to the current market without regard to the original price, extension fees or a Relock Fee.