Real Estate Glossary

What is Lock-In?

A lock-in is an agreement between a lender and a borrower that guarantees a specific interest rate for a specified period of time. This option allows borrowers to lock in an interest rate before they actually apply for a loan, which can protect them against future interest rate increases. This is particularly useful for borrowers who want the certainty of knowing their monthly payment will stay the same even if interest rates increase.

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