How to Lock in a Mortgage Rate Spencerport 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

HSBC Bank
1.800.975.HSBC (4722)
Across From Xerox Bldg 1 Hsbc Plaza
Rochester, NY
Citizens Bank - Northgate Plaza
585-865-5150
3800 Dewey Avenue
Rochester, NY
Boughnerrabideau Agency
(716)594-9494
4390 Buffalo Rd
North Chili, NY
R G P Funding Inc
(716)247-0980
1548 Buffalo Road
ROCHESTER, NY
First Residential Lending Corporation
(585)214-0500
120 Allens Creek Road
ROCHESTER, NY
HSBC Bank
1.800.975.HSBC (4722)
Corner Of Lyell/Plymouth 70 Lyell Ave
Rochester, NY
Chase Bank
(585) 242-7833
560 Monroe Ave
Rochester, NY
Bank of America - Clover-Monroe
800.432.1000
2830 Monroe Ave
Rochester, NY
Mr. Gregory Lee Schaffer (RFC®), CFP
585-621-3300
3205 Mount Read Blvd.
Rochester, NY
Freedom Mortgage
(585)383-5516
70 Linden Oaks
ROCHESTER, NY
Data Provided by:
  

Related Articles
- How to Compare Mortgage Programs Spencerport 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.
- Adjustable Rate Mortgage Spencerport NY
- How to Talk to Mortgage Lenders Spencerport NY
- Advantages and Disadvantages of Refinancing Spencerport NY
- Flexible Mortgage For Self Employed Spencerport NY
- How to Create a Mortgage Calculator With Microsoft Excel Spencerport NY
- How to Avoid Foreclosure by Knowing Your Mortgage Type Spencerport NY
- How to Understand a N.I.N.J.A. Mortgage Spencerport NY
- Options for Home Refinancing Spencerport NY