how long does the lock on the loan last va loan
Lenders wonât lock in your VA rate without your permission. The most common lock period is for 30 days and coincides with most sales contract periods. If you want to lock your rate for say 45 days, your VA lender might ask for a quarter of a point or more. On a $200,000 loan, one-quarter point equals $500. If you need to lock in for 60 days, you might expect to pay one-half point and so on. The most common lock period for VA loans is 90 days and you can expect to pay a full point to guarantee your rate for three months.