Interest Rate Extensions- How to avoid extra fees from rate lock extensions

Learn how to avoid the additional costs associated with rate lock extensions. When you lock in your interest rate, you set a timeline for closing. Missing this deadline can result in extra fees. To prevent this, ensure you lock your rate only when you are confident everything will close on time. This helps avoid penalties and keeps your costs down.

Key Takeaways:

• Explanation of rate lock extensions and associated fees.
• Importance of locking your rate only when certain of closing dates.
• Tips to avoid additional costs from missed deadlines.

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