Are you planning on buying a house for sale in Auburn or buying a home for sale in Opelika and are wondering what a mortgage rate lock is? A mortgage rate lock is a commitment by a lender to give you a home loan at a specific interest rate, provided you close on your home in a certain period of time (which is typically 30 days from when you’re approved for your loan). This rate lock offers protection against fluctuating interest rates—useful considering that even a quarter of a percentage point can take a huge bite out of your housing budget over time.
For all of your real estate needs in the Auburn-Opelika area please contact me at (334) 332-7263 or email me at LauraSellers01@Gmail.com or visit my website. I look forward to helping you buy the home of your dreams or sell your existing home. Search for Auburn homes for sale or Search for Opelika homes for sale here.