Tag Archives: mortgagelock

What Is a Rate Lock and How Does It Affect My Loan?

Written by: - April 30, 2009

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What Is a Rate Lock and How Does It Affect My Loan?

Almost anybody who has ever purchased a home, or refinanced a mortgage has probably heard of a ?rate lock? or ?locking the rate.? However, what does it mean to you, the borrower, and how can it affect your financing?

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