In order to be able to lock in an interest rate and points, you must make formal mortgage application. Once application is made, we are able to lock in the interest rate and points with the designated lender who makes the residential mortgage loan. Only the mortgage lender can issue a rate lock agreement for said rate and points. Loans can typically be locked for terms of 15, 30, 45 and 60 days, sometimes longer. It is important to take into consideration all of the factors which go into the mortgage processing, underwriting and closing stages so that you can close in the specified time period. Due the fact that there are unpredictable things which can delay a mortgage, it is always best to allow for more time if needed. This may mean taking a longer rate lock period or floating the interest rate and locking in the rate a little further into the application process. The available interest rates and points fluctuate and are subject to change at any time until you lock them in.

I am only licensed in CT. Michael A. Kirkutis, CT DOB NMLS #111599, MAK Mortgage Company, Inc., CT DOB NMLS #103552. MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER. www.cthomemortgageloan.com