Skip to Content

Lock Period

« Back to Glossary Index

Lock Period also called mortgage lock-in period is the period of time that a lender will guarantee a specific interest rate. Rate lock-ins protect the borrower against rate increases during that period of time. A rate lock period typically lasts 15 to 60 days. To keep the mortgage rate the borrower has locked, borrower must close and fund the loan before rate lock expires.

Mortgage Lock-in Period, Lock-in Period
« Back to Glossary Index
Skip to content