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Old 01-09-2008, 10:22 AM
 
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Does locking the rate will also locks the closing costs , other costs, amount of finance?? Please help
now that interest rate is very low.
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Old 01-09-2008, 10:32 AM
 
Location: Martinsville, NJ
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Quote:
Originally Posted by arun196 View Post
Does locking the rate will also locks the closing costs , other costs, amount of finance?? Please help
now that interest rate is very low.
I guess that would depend on the lender, but here in NJ, I would say no. The closing costs are not all dependant on the loan rate, but on other factors. Locking the rate might lock you into a range of available money to borrow, but you probably had that range figured out already so they loan guy could choose the best program.
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Old 01-09-2008, 10:47 AM
 
Location: Charlotte, North Carolina
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nope. it may lock in the origination fee/discount points and interest rate.

I really doubt any lender is locking in the title fees as this is 3rd party.
Same thing with the appraisal fee.
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