How to Lock in a Mortgage Rate Centereach NY

OK. You've spent weeks, maybe months shopping around for a mortgage--filling out forms on the internet, waiting on hold on the phone, dropping off paperwork at the local office--but you've finally found a great interest rate with low upfront costs. Then, right before the closing, you get an unwelcome surprise: the interest rate has gone up, or you'll have to pay thousands more in points. How did that happen? While there's no shortage of unscrupulous lenders who try to pull the old bait-and-switch, there are also legitimate reasons why the terms of a mortgage may change from the time you get your quote to the time you're actually ready to buy. You can avoid the surprises, however, with a rate lock-in, also called a rate lock or rate commitment. Here's how.

Local Companies

Schaefer Agency
(631)979-7474
201 E Main St
Smithtown, NY
Jeffrey Lewis, CFP, ChFC
7 White Deer Court
Huntington, NY
Mr. Michael H. Fliegelman (RFC®), CHFC, CLU
631 806 3568
5 Harborfields Ct
Greenlawn, NY
Mr. Richard A. Fallica (RFC®), CEP
631 979 6161
P.O. Box 728
Smithtown, NY
New York Mortgage Company
(631)962-2760
538 Broadhollow Road
MELVILLE, NY
Bank of America - Patchogue
631.475.3021
47 West Main St
Patchogue, NY
Washington Mutualfinancial Center
(631)589-0701
131 Main St
Sayville, NY
JOSEPH CONBOY
P. O. BOX 449
SHOREHAM, NY
Mr. Albert F. Coletti (RFC®), CHFC, CLU
631 979 6161 x102
P.O. Box 728
Smithtown, NY
South Shore Mortgage CO
(631)321-9500
584 Sunrise Highway
WEST BABYLON, NY
Data Provided by:
    

Related Articles
- How to Compare Mortgage Programs Centereach NY
To compare mortgage programs you need to look at the APR. What is an Annual Percentage Rate (APR)? The annual percentage rate (APR) is an interest rate that is different from the note rate. It is commonly used to compare loan programs from different lenders. The Federal Truth in Lending law requires mortgage companies to disclose the APR when they advertise a rate.
- Options for Home Refinancing Centereach NY
- Advantages and Disadvantages of Refinancing Centereach NY
- Flexible Mortgage For Self Employed Centereach NY
- How to Talk to Mortgage Lenders Centereach NY
- How to Create a Mortgage Calculator With Microsoft Excel Centereach NY
- Adjustable Rate Mortgage Centereach NY
- How to Avoid Foreclosure by Knowing Your Mortgage Type Centereach NY
- How to Understand a N.I.N.J.A. Mortgage Centereach NY