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Started By
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Rate Lock Question?
Posted on 7/10/10 at 2:03 am
Posted on 7/10/10 at 2:03 am
My 30 day lock on a rate of 4.625% for 30 year loan expires on 07/21. We had to move the closing date back to 07/30. The original closing was on 07/19. What will my rate be? Can I lock the rate again on 07/22?
2
Posted on 7/12/10 at 2:26 pm to SadSac
Anyone? I would like to know this also. I locked a rate in on june 8 and now the 30 day lockin period is past. Will I need to resign lockin paperwork ? 
Posted on 7/12/10 at 2:30 pm to SadSac
When I got locked in, I didn't have to fill out any paperwork. We closed in April, and I think our rate was locked sometime in March. Just ask your loan officer if the rate can be locked in again?
Posted on 7/12/10 at 2:45 pm to Boh
But I want a lower rate now 
Posted on 7/13/10 at 2:59 pm to threeputt
quote:
Anyone? I would like to know this also. I locked a rate in on june 8 and now the 30 day lockin period is past. Will I need to resign lockin paperwork ?
No, you won't need to, but your loan officer can extend the rate for you. Normally there is a charge for it, but with the new Good Faith rules and regulations, the loan officer will normally be the one that pays for it out of their commission since your fees cannot change from what you were originally disclosed.
Posted on 7/13/10 at 7:01 pm to jkb531
Well that is mighty nice of them since the rates are lower now than they were when I locled in !!!
Anywho - I called the back today and asked them and they told me that my rate was locked in until the 23rd even though I signed the paperwork on June 8th
Anywho - I called the back today and asked them and they told me that my rate was locked in until the 23rd even though I signed the paperwork on June 8th
Posted on 7/13/10 at 7:04 pm to threeputt
quote:
Well that is mighty nice of them since the rates are lower now than they were when I locled in !!!
You wouldn't be saying that if the rates had gone up though.
Posted on 7/13/10 at 10:02 pm to jkb531
quote:
You wouldn't be saying that if the rates had gone up though
Honestly, I would have assumed that I would have to lock in another rate if the lock in period has passed - either higher or lower.
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