A mortgage rate lock is a written agreement between the mortgage lender and borrower. There are several important factors when considering a mortgage rate lock: loan product, interest rate, origination, discount points, and the length of the rate lock. Second Mortgage Banker recommends locking the interest rate for at least 30 days to be safe
Confidence with rate lock commitments
Don’t let you rate lock expire
Call 1-800-980-1254 to find out more about getting your second mortgage rate locked..