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Reload this Page bugging about interest rate lock (mortgage, mortgage, fee, broker)
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Old 03-06-2008, 09:51 AM
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Post bugging about interest rate lock
first time home buyer.. lender gave me good interest rate which expires on 31st march and my closing is on 27th march if something delays they told they dont change the interest rates...but somewhere bugging me that if they change the interest rates what to do then?help me pl..
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Old 03-08-2008, 09:50 AM
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It depends on the lender...Some lenders charge a fee to relock the rate, some charge you 1/8 of a point. This really is a question for your mortgage broker since they will know what type of policy the lender has with regard to losing a lock.
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