Lock jumper
Definition
A borrower, usually refinancing rather than purchasing a home, who allows a lock to expire when interest rates go down in order to lock again at the lower rate
Related Terms Other terms related to 'Lock jumper' starting with the letter 'L' Lock failure, Loan officer, Loan discount fee, Late fees, Lease to own purchase Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 