WHat are the different lock priods for 30YR mortgage ?

It completely depends on the lender. Some have 15, 30, 45 etc., while others have 12, 25, 40. I's generally a good idea to lock for longer than you need, it usually saves you money in the long run over having to pay to extend the lock.

Standard is always in increments of 15 days-so the earliest being 15- standard that most lenders use is a 30 day lock unless you are floating the rate up until the final clear to close then a 15 day lock can work. Next would be 45 then 60 days. Just bear in mind the longer the rate lock period the worst the pricing is going to be because the when your rate is locked- the lender sets aside your loan amount at that day at that rate no matter what happens to the market. The risk is on the lender to close that rate because if you do not close then that is considered rate lock fall out. This can cause rates to get worst for a lender because there lock pull through ratio goes down which looks bad to the investor. Please feel free to contact me if you need anymore information!

It depends on when you want to close. Most of my clients that are refinancing or even buying in the next 30 days are put on a 30 or 45 day lock. You can lock your rate longer out, but the rate could worsen by up to an eighth of a point to do so. Give me a call and let's see what we can do for you. I cover the state of Texas. 214-733-6899.

They do vary a little bit but for a primary residence some build in the right of rescission period too so with one lender a 12 day lock is equal to a 15 day lock elsewhere. Your lender should be able to tell you this. With the current laws regarding appraisals and disclosure times you're best with a 45 day lock if you chose to lock early in the process. A shorter lock is fine if you're already well along. Not too may will allow locking for 15 days or less unless your loan has already been approved.

Here is the smart way to go about it. Ask your loan officer what the pricing difference is between a 30 day lock and a 45 day lock.Usually the pricing difference is .25 points (Notr - this is PRICE, not Rate. So, on a $400,000 loan, you would pay $1,000 MORE if you lock for 45 days.That is the conservative way to go.However, you may wish to consider this strategy. Lock for 30 days, and save the $1,000. Before you do this, find out what the Lock Extension cost is, and whether you have to pay it.If the extension cost is .25, it's a "wash." With this strategy, at least you give yourself a chance to save the $1,000.