Maximum lock
Definition
The longest period for which the lender will lock the rate and points on any program. The most common maximum lock period is 60 days, but on some programs the maximum is 90 days; only a few go beyond 90 days
Related Terms Other terms related to 'Maximum lock' starting with the letter 'M' Manufactured housing, Mortgage lender, Mortgage formulas, Mortgage company, Mortgage insurance disclosure 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 | 