What happens if your lock expires on your mortgage?

Answer If a borrower's interest rate lock expires before closing, he is no longer eligible for that interest rate. However, if desired, the borrower can extend his lock prior to expiration for a fee.Signi... Read More »

Top Q&A For: What happens if your lock expires on your mortgage

How to Lock in a Mortgage Rate?

OK. You've spent weeks, maybe months shopping around for a mortgage--filling out forms on the internet, waiting on hold on the phone, dropping off paperwork at the local office--but you've finally ... Read More »

Should you lock your mortgage rate?

On One Hand: It Secures Your MortgageAccording to Beaverton, Oregon-based mortgage broker Tony Saenz, a fixed-rate mortgage is a secure home financing option. By locking in a set mortgage rate, you... Read More »

How to Break a Mortgage Rate Lock?

Mortgage rate-lock agreements are legally binding agreements to hold a mortgage rate for a specified period of time. However, the only party bound to the agreement is the lender or broker. If you h... Read More »

Mortgage Rate Lock Advice?

Mortgage interest rates change constantly to reflect lending conditions in the mortgage market. This makes timing important when you are shopping for a mortgage. Choosing a combination of low inter... Read More »