CalculateRealEstateROI

Financing

Rate Lock

Lender's commitment to honor a quoted rate for a set period during closing.

Reviewed by Keiron Brown, Founder & Editor, CalculateRealEstateROI · Educational estimates only — not investment, financial, tax, or legal advice

Plain-English explanation

Locks typically 30-60 days. Extensions cost money.

Examples

  • 45-day rate lock at 6.875%.

Common mistakes

  • Locking too early and paying for extensions.