Welcome to Joe Knows Mortgages MINUTE, where we answer your mortgage questions.

On this week’s Joe Knows Mortgages MINUTE, we answer the question:

How long is my rate locked in for?

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!

All you have to do is submit your question and it may be chosen for our next “Joe Knows Mortgages MINUTE” which we showcase on Mondays.

All questions will be replied to, so please submit your question below.


Do you have a home loan related question?

We'd love to hear from you!