Lock Period
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A lock period is the window during which a lender guarantees a quoted interest rate while your loan is processed.
What Lock Period means
Common locks run 30, 45, or 60 days. If the loan doesn't close in time, you may need a paid extension or have to accept current market rates.
Florida example
A Florida buyer locks a 6.75% rate for 45 days to match a typical purchase timeline. If closing slips past the lock, an extension fee preserves the rate rather than re-pricing at a possibly higher level.
What it means
A lock period is the window during which your lender guarantees your quoted rate. Common locks run 30, 45, or 60 days.
If you close within that window, your rate is protected even if the market rises.
How to use it
Match your lock period to your expected closing date so the rate holds. A lock that expires early can cost you a fee to extend.
We time your rate lock to your closing. Reach out and we will protect your rate at the right moment.
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