How do rate locks work? I’m in NJ and I’m finding it so difficult to understand their fine print. No lender locks a rate here unless you have an accepted contract and further if that contract fails to close the rate lock automatically expires. I keep hearing so many folks saying they have a rate lock when I go check out open houses and I wonder how did they manage that?

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It’s by lenders. Some places lock for free but for a short time (30 days), some places can lock for more for a price.

I would recommend family first funding they are the best, could share my contact if you would like

Yes please share if you don’t mind. Do they offer extended rate locks?

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