When Can Borrowers Lock In Their Interest Rate? Winning Pumpkin Muffin Recipe!

Borrowers who are still in the pre-approval stage or making offers on properties often ask if they can lock in their interest rate when they hear rumors of pending rate increases.

For purchases, we are usually unable to lock in a rate until we get a ratified purchase contract that identifies a specific property address and a closing date.

Some lenders and investors allow borrowers to forward lock without a property address, but such locks usually require a large non-refundable, upfront fee. We used to take advantage of this feature years ago when the markets were more volatile. We stopped, however, b/c even in cases where rates increased, they never seemed to increase enough to offset the extra upfront fee.

For refinances, we can lock as soon as a borrower gives us the authorization and all of the necessary information we require to lock and disclose (Name, Address, Social Security Number, Income, Value Estimate, Loan Amount).

AND… now for the most important part of this blog…

Here is Katherine’s recipe that won our JVM Bake-off last week (we had many requests).

Pumpkin Cheesecake Muffins with Streusel Topping

Ingredients:

Crumb Topping:

• ¼ cup dark brown sugar
• ½ cup all-purpose flour
• 1 teaspoon cinnamon
• ¼ cup butter melted
• ¼ cup oats

Pumpkin Muffins:

• 1 and 3/4 cups (220g) all-purpose flour
• 1 teaspoon baking powder
• 1 teaspoon baking soda
• 1/2 teaspoon salt
• 1 teaspoon ground cinnamon
• 2/3 cup dark brown sugar
• 2 large eggs
• 1 cup pumpkin pie puree
• 1/2 cup vegetable oil
• 1/3 cup milk of choice
• 1 teaspoon vanilla extract

Cheesecake Filling:

•  8 ounces cream cheese
• 1 extra large egg yolk
• ½ teaspoon vanilla extract
• 3 tablespoons sugar

Directions:

• Preheat oven to 425
• Make crumb topping: by mixing together all ingredients until large clumps form•
• Make pumpkin muffins: Stir dry ingredients together. Cream together all wet ingredients. Slowly whisk in dry ingredients. Do not overmix batter, small clumps in batter are okay!
• Make cheesecake filling: combine all ingredients, beat until combined
• Line a muffin tin
• Fill each tin about a third with batter, then add a tablespoon of cheesecake filling, then fill muffin tin to the top with batter.
• Press crumb topping into the top of each muffin

Bake at 425 for 5 minutes. Reduce heat to 350 and make for 15 more minutes. Let cool in tin for 15 minutes and then transfer to a cooling rack.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 1197176, NMLS# 310167