When to Lock in Your Mortgage Interest Rate
Finding the perfect house for your family is one of the most important parts of the homebuying process. But it’s not the only thing you need to do to get ready for the transition from renter to homeowner. You also want to get the low interest rate on your home loan that will support a monthly payment that makes you comfortable. If you are worried that rates will rise between the time you apply for your mortgage and the closing date, you can lock in your mortgage interest rate early in the process. Here’s what you need to know: