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What is a lock period?

April 26, 2017lock period

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What is a lock period?

2 Answers

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Posted

A lock period refers to the amount of time prior to closing that you can secure an interest rate for your loan. Lock periods range from 30 days to more than 90 days. Generally, the longer the lock period, the more you pay in points or interest.

0

Posted

A lock period refers to the amount of time prior to closing that you can secure an interest rate on your loan. Lock periods range from 30 days to more than 90 days. Generally, the longer the period, the more you pay in points or interest.