How to Get a Real Rate Lock on a DSCR Loan?

[Burt L.]

I"ve been shopping a DSCR and hearing odd things about rate locks.

So far I've been told things such as  I can lock "when I"m close to closing" or "after the appraisal is completed". The appraisal is supposed to be the slowest part of the process. 

I'm sure rates will not be down from those quoted up-front. Years ago I saw a line item on one of my settlement statements for a Yield Spread Premium, which I don't believe are legal anymore. There wasn't much question what had happned there. 

How can I get the actual rate I'm quoted at the time of commiting to the loan?

Thank you BP nation.