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Resources > Glossary > Lock-in

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Lock-in

Function: noun

Definition 1:
A written agreement guaranteeing the home buyer a specified interest rate provided the loan is closed within a set period of time. The lock-in usually specifies the number of points to be paid at closing as well.

Thesaurus / Related Terms
Lock Period
Rate