A lock holds a specific rate and terms for a set number of days while your loan is processed, protecting you if market rates rise. If the lock expires before closing, extending it may cost extra. Your rate depends on your credit, loan type, and other factors.
Trinathen Lending LLC · NMLS #2783720 · Equal Housing Lender. Market figures come from MLS listings as of October 14, 2026 and are not a guarantee of value.