Period of time during which a lender guarantees to the buyer, a specified interest rate, regardless of a rise in market rates. The longer the time period of the guarantee, the more points charged.
Time period that a rate is protected for during the loan process.
It is the period guaranteed by the lender during which the interest rate does not change. For e.g. After identifying a property, the potential owner may 'lock in' the rate.
The cooling period after investment in fresh units during which the investor cannot redeem the units.
The amount of time the lender agrees to lock in an interest rate for the purchaser.
The period of time for which investments made in an investment option cannot be withdrawn.
This is the number of years that you have agreed to stay with the lender. Depending on the deal, it could be as low as six months up to the whole of the term. Should you attempt too pay off the mortgage or remortgage during the lock-in period, you may be liable to pay redemption penalties. Always make sure you know how much you are locked in for with your mortgage.
A specified number of days before loan closing during which the range of rates available to a borrower is protected from financial market fluctuations in interest rates. Locking does not guarantee what specific rate will apply at closing, as that depends on specific transaction characteristics and the borrower's credit profile.
A time guaranteed by the lender during which you are promised a specified interest rate while your loan is processing.
The time period during which the lender has guaranteed an interest rate to a borrower. See lock-in.
The guarantee of an interest rate for a specified period of time by a lender, including loan term and points, if any, to be paid at closing. Short term locks (under 21 days), are usually available after lender loan approval only. However, many lenders ma
Since interest rates can change frequently, many lenders offer an interest rate lock-in that guarantees a specific interest rate if the loan is closed within a specific time.
The specified time period during which a lender has guaranteed a specific interest rate to a borrower.
This is the minimum period you have agreed to stay with the lender. Depending on the deal, it could be as low as six months up to the whole of the term. Should you wish to repay the mortgage or remortgage during the lock-in period, you will invariably have to pay redemption penalties. Always make sure you know how long you are locked in for with your mortgage.
The time period during which the lender has guaranteed an interst rate to a borrower. Back to the top
The number of days during which a lender guarantees a borrower a specific interest rate and terms on a mortgage.
A period of time in which the quoted interest rate and discount on a specific loan is guaranteed. For example, if a lender quotes an interest rate of 8% on a $100,000 loan with a discount of 2% for 45 days, the borrower is guaranteed that quote if the loan is approved and closed within that stated time. A lock-in agreement does not constitute a mortgage loan commitment.
A period of time during which the borrower is guaranteed an agreed-upon interest rate, even if market rates rise. The longer the period, the higher the cost (in points) to the borrower.
A period of time during which a lender guarantees the borrower a specific interest rate on a mortgage loan.
The time period during which the set interest rate is guaranteed to the borrower
