When to Lock in your Mortgage Interest Rate | First Time Home Buyers | New Builds

When to Lock in a Mortgage Interest Rate

Are you a first-time home buyer in the home buying process and wondering about locking an interest rate in this housing market? When should you lock your mortgage rate? Why should you lock your interest rate? How do you lock your loan? How do I lock when I am building a new home that will take several months to complete?

In this video, I discuss the locking process, when to lock, what to look for with a builder, and everything around mortgage and the process of locking a loan.

0:00 Intro
0:11 Pre Approval Rate vs Actual Rates
0:30 Why do we lock in rates
0:55 How long are rate locks good for?
1:12 When do I lock my loan?
1:45 Can I lock my rate before I have a property?
3:05 When to Lock a Purchase Loan?
3:35 What if rates DROP after I lock?
4:11 Can I lock with Multiple Lenders?
5:00 When to lock a New Build mortgage?
6:18 Builders preferred lender
6:46 Read Builder Contracts

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Michael Wolff
Mortgage Broker
UMortgage
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Видео When to Lock in your Mortgage Interest Rate | First Time Home Buyers | New Builds канала Michael Wolff Mortgage Broker