Quote:
Originally Posted by jons_wifey
3. After you lock your interest rate, you must go to settlement within NA days to receive the locked interest rate.
4. You must lock the interest rate at least 1 days before settlement.
Does point 3 sound right to you? It's okay for a lender to do this?
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Yes because you have not locked yet.
If you were locked, #3 would read "within 30 days.." (likely), and #4 would say "NA" instead of "1."
When you Lock, you will receive that paperwork again, with those boxes changed, and a Lock Confirmation page for you to sign.
BTW: your lender should have explained this, and if you are within 30 days of closing, you should strongly consider Locking asap.
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