What is the duration of Lock-In?
Lock-Ins for 30 to 60 days are common but it varies. There are lock-Ins as long as 120 days which some lenders may charge a large fee for and there are Lock-Ins as short as 7 days, after approval of loan. It is best to contact your lender and ask what the average time to process a loan is and estimate how long it will take to process your loan. Also, take into consideration the time of any unforeseen delays that may result in the duration of a Lock-In.
