Written agreement which guarantees the homebuyer a specific interest rate providing the loan is closed within a certain time frame. The number of points due at closing are usually predetermined.
An agreement in which the lender guarantees a specified interest rate for a certain amount of time. Extended lock in periods usually incur an additional fee. [] Go to: | | | | | | | | | | | | | | | | | | | | | X | Y
An agreement ensuring that a client will perform all his business with the same broker, who, in exchange, commits to provide superior services as for example - accommodating block buy and sell needs, preparing researches and other services (e.g. soft-dollar lock). The fund manager will pay a higher-than-normal commission rate, with the excess covering the cost of the services. The agreement usually guarantees a certain volume of transactions.
Written agreement guaranteeing the homebuyer a specific interest rate providing the loan is closed within a certain time frame. The amount of points due upon closing are typically predetermined.
A designated period of time during which a borrower and a lender have agreed to a specific interest rate. Most locks are from 30 to 45 days. This usually involves paying a fee to the lender. Mortgage rates not "locked in" are subject to changing market conditions. Under some conditions, if you lock and the rates drop, the better rate can be obtained.
A specific guaranteed interest rate provided the loan is closed within a designated period of time.
close with or as if with a tight seal; "This vacuum pack locks in the flavor!"
a commitment from the lender to loan you money at a certain rate
a promise (in writing) to close your loan at a certain interest rate and points
You may choose to freeze the interest rate that will be charged on a particular loan for a certain time period.
A written agreement guaranteeing the home buyer (or refinance) a specified interest rate provided the loan closes with that buyer within a set period of time. Go top
A lender's guarantee of an interest rate for a specific time period, usually the period between loan application approval and loan closing. The lock in protects the applicatnt against rate increases during that time.
A commitment from a lender which gives the borrower a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between loan application, loan approval, closing and receiving borrowed funds. argin - An amount, which is added to the index, or measurement to determine the interest rate for adjustable rate mortgages.
Interest rates and discount points are guaranteed for a period of time; loan must be closed prior to expiration of lock-in period.
When an interest rate is set before the loan documents are processed to ensure the borrower gets the best interest rate available.
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.
A commitment you obtain from a lender assuring you a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between the time you apply for a loan, acquire loan approval, and, subsequently, close the loan and receive the funds you have borrowed. A fee may or may not be charged to “lock in” your interest rate.
A written agreement guaranteeing the home buyer specified interest rate provided the loan is closed within a set period of time. The lock in also usually specifies the number of points to be paid at closing.
A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
Committing to a specific interest rate on your loan.
A lender's guarantee of an interest rate and related points for a set period of time, usually between loan application and loan closing. Protects borrower against rate increases during that time.
Allows the borrower to be assured a given rate of interest for a mortgage. This usually involves paying a fee to the lender. Mortgage rates not "locked in" are subject to changing market conditions.
A lender's written contract guaranteeing a specific interest rate over the life of the loan to the borrower as long as the loan is closed by a certain time. The downside to locking in an interest rate is that the borrower may have to pay a slight interest rate premium.
agreement that the lender will agree to a fixed interest rate on loan for a particular period of time and cost.
A commitment you obtain from a lender assuring you a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between the time you apply for a loan, acquire loan approval, and, subsequently, close the loan and receive the funds you have borrowed. Margin: An amount, usually a percentage, which is added to the index to determine the interest rate for adjustable rate mortgages.
The commitment obtained from a lender assuring you a particular interest rate and/or feature for a definite time period. Provides protection against rising interest rates between the time you apply for a loan, obtain loan approval, and, close the loan thus receiving the funds you applied to borrow.
A commitment obtained from a lender assuring a particular interest rate or feature for a definite time period. Provides protection should interest rates rise between the loan application, loan approval, and closure and receipt of the borrowed funds.
Used in the context of general equities. Assures that an individual contracts all his or her business with a sole broker by providing superior services, such as accommodating block buy and sell needs or preparing excellent research ( soft dollar lock). This usually guarantees a certain volume of business.
