How Long Is My Rate Locked in For?

Table of Contents

A rate lock period can vary in length; longer rate locks usually cost more.  They cost more either in the rate or in the fees or both. A lender will agree to “hold” your interest rate and fees for a longer period and in exchange, the rate and fees may be higher than with a shorter rate lock period. Your Mortgage Professional can help determine if you need a longer rate lock period than the normal 30-45 days. At Morgan Financial, we have many extended lock options, so be certain to ask your Loan Originator.

Do you have a home loan related question that you want answered? We want to hear from you!

Joe

Chief Operating Officer

Joe Harris is the COO of Morgan Financial, where he oversees operations, sales, and marketing to ensure a fast, enjoyable, and consistent mortgage experience. With more than 25 years in the industry and over $1 billion funded, Joe combines deep expertise with a passion for helping clients achieve homeownership. He is also dedicated to training and equipping loan officers with the tools and strategies they need to thrive in a competitive market.

NMLS#322991