Financing in Lees Summit>Question Details

Linz_s02, Home Buyer in Lees Summit, MO

locking in an interest rate

Asked by Linz_s02, Lees Summit, MO Fri Aug 14, 2009

our offer on the house was accepted one week ago. we are doing a 45 day closing, and will be closing october 1. when can we lock in our interest rate?

Help the community by answering this question:

Answers

3
Anytime! You need to visit with your lender... he will have a rate for a 30 day lock or a 45 day lock. You just need to call the lender. Easy!
0 votes Thank Flag Link Fri Aug 14, 2009
You can lock whenever you want. However, right now you would have to lock for 45 days which may not have as good of a rate or price vs. what you can get for 30 days. Not horribly worse, maybe just 1/8 of a percent or a cost of an extra 1/4 discount point. The closer between the lock and the closing date, the better the pricing.

If you have any questions, please don't hesitate to contact me.
Luke Allison
Bank of America Home Loans
828-777-8828
luke.allison@bankofamerica.com
0 votes Thank Flag Link Fri Aug 14, 2009
You can lock anytime, or could have locked already. Anyone that tells you any different is either misleading you or their company has an internal policy stating otherwise.
0 votes Thank Flag Link Fri Aug 14, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer