Your mortgage rate lock may expire if you do not have a signed contract on a new home by the time the lock period ends. Some lenders allow you to transfer your lock to a new property.
Ask your lender about lock transfer options before you cancel the original contract. Each lender has different policies on lock transfers.
Lock Transfer Options
Patrick Kevin Fagan explains lock transfer options for homebuyers in San Antonio and the Texas Hill Country. If the contract falls through, contact your lender immediately to discuss your options for protecting your rate.
Expiration Risk
Patrick Kevin Fagan explains expiration risk for homebuyers in San Antonio and the Texas Hill Country. If the contract falls through, contact your lender immediately to discuss your options for protecting your rate.
New Contract Requirements
Patrick Kevin Fagan explains new contract requirements for homebuyers in San Antonio and the Texas Hill Country. If the contract falls through, contact your lender immediately to discuss your options for protecting your rate.
Lender Policies
Patrick Kevin Fagan explains lender policies for homebuyers in San Antonio and the Texas Hill Country. If the contract falls through, contact your lender immediately to discuss your options for protecting your rate.
