Some lenders will not underwrite your loan if you don't lock the rate. But other lenders are OK for you to lock at any time you like. Lock the rate when you submit the loan will gurantee you will get the promised rate by the broker. wihtout locking the rate, broker can only register your loan to the lender based on the rate trend ( assuming your case is not corner case and all the lenders can deal with that). You might end up with higher rate but of course, if rate is not changing, you will get better rate by locking the short time.
today's rate is little bit worse than yesterday. but nobody really can tell how the rate will go. so just follow your heart to make sure you would feel comfortable for whatever the decision you will made.
【在 s*****i 的大作中提到】 : 那现在锁定30年,7/ARM, 是不是时候啊?再谢!
s*i
15 楼
30年期, 7/ARM: Interest rate 2.75% Points 0.25
r*d
16 楼
It is hard to tell you if this rate is OK or not without knowing the more detailes. Here is the rate today ( it is only applying to California) SFR, Primary living, LTV75%, FICO 740+, loan amount around 400K, 2.75% for 7 yrs ARM NO COST SFR, Primary living. LTV75%, FICO 740+, loan amount around 600K, 3.0% for 7 yrs ARM NO COST
By the time you submit the full doc, your agent will start to process the files. After they register the loan in the bank's system, you should be able to lock the rate. In another word, you should be able to lock the rate on the same day of the full doc submission.
【在 d*****9 的大作中提到】 : 什么时候资料会在电脑里呢,房屋appraisal后吗?
d*9
19 楼
谢谢哦,可以再问下那利率可以锁多久吗?
able on
【在 r******d 的大作中提到】 : By the time you submit the full doc, your agent will start to process the : files. After they register the loan in the bank's system, you should be able : to lock the rate. In another word, you should be able to lock the rate on : the same day of the full doc submission.
r*d
20 楼
The lock period can be 15 days, 30 days, 45 days and 60 days. the longer the time you lock, the worse the rate or rebate you will get. Assuming rate is the same or better, locking 15 days after the loan is fully approved will provide you the best rate. However, if the rate is becoming worse, locking afterwards will be risky.
【在 d*****9 的大作中提到】 : 谢谢哦,可以再问下那利率可以锁多久吗? : : able : on
【在 r******d 的大作中提到】 : The lock period can be 15 days, 30 days, 45 days and 60 days. the longer the : time you lock, the worse the rate or rebate you will get. : Assuming rate is the same or better, locking 15 days after the loan is fully : approved will provide you the best rate. However, if the rate is becoming : worse, locking afterwards will be risky.
r*d
22 楼
You can always walk away before removing contingency for any conditions you are not satisfied , and you will loose inspection fee or appraisal fee. For broker, we dont charge the processing fee or locking fee. If you have to walk away, you need to present us the contract cancellation so we will not get penalty from lenders. Of course, we will waste sometime and credit score checking fee and processing, but we never charge people on any cost for such situation. But you do need to check with your brokers to see what is their policies. I have read some post a few days ago that some direct lender need you to pay processing fee first. Best luck
【在 r******d 的大作中提到】 : You can always walk away before removing contingency for any conditions you : are not satisfied , and you will loose inspection fee or appraisal fee. For : broker, we dont charge the processing fee or locking fee. If you have to : walk away, you need to present us the contract cancellation so we will not : get penalty from lenders. Of course, we will waste sometime and credit score : checking fee and processing, but we never charge people on any cost for : such situation. : But you do need to check with your brokers to see what is their policies. I : have read some post a few days ago that some direct lender need you to pay : processing fee first.