Maximum Lock

Maximum Lock

The longest period for which the lender will lock the rate and points on any program.

On most programs, the longest lock period is 90 days; some go to 120 days and a few to 180 days.

It is extremely important that the lock period selected be long enough to cover your home purchase closing. On a refinance, the period must be long enough for the loan to be processed. This can vary widely, depending on the lender's workload. Discuss the time required with the broker or lender.

References in periodicals archive ?
Team Maximum Lock is to drifting what the Red Arrows team is to flying, precision of the highest calibre.
It will feature American rapper and television host Xzibit in an exclusive concert, as well as UK professional stunt rider Lee Bowers, Malta drift team Maximum Lock and UK monster truck Slingshot.
Drift team Maximum Lock from Malta and UK monster truck Slingshot are also scheduled to appear, in addition to a National Day Car Competition, open to entries from the public.
Full browser ?