If rates are better when your rate lock expires, we will be able to extend your lock for free. If rates are higher at the time your rate lock expires, an example of extension costs are as follows:
7 days = .125 Pts
15 days = .250 Pts
30 days = .500 Pts
The extension policies may vary depending on the lender we select for your loan, but the majority of the lenders follow the guidelines listed above.