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What is a Lock-in?

Lock-in
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What is a Lock-in?

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The lock-in represents the interest rate you choose and will be the interest rate used to factor your monthly payment. The lock-in secures the interest rate during the process of your loan approval as long as your loan is processed and closed prior to the rate expiration date. This date is given to you when you lock-in the rate.

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Interest rates and discount points are guaranteed for a period of time; loan must be closed prior to expiration of lock-in period.

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