Locking in a Rate in Real Estate

[Ralph DiBugnara]

• Whether you're getting ready to buy your first home or you've done this before, you'll benefit from discovering the best time to lock in a mortgage rate. Understanding how it works and what it's for can help make the home buying process a little easier.
• You can choose to lock in your mortgage rate from the moment you select a mortgage, up to five days before closing. Locking in early can help you get what you were budgeting for from the start. As long as you close before your rate lock expires, any increase in rates won't affect you.