FAQ and Tips
- HOW MUCH WILL MY PAYMENTS BE?
- FOR HOW MUCH DO I NEED TO QUALIFY?
- HOW MUCH CAN I AFFORD?
- WHAT IS A HARD MONEY LOAN?
- HOW CAN I BECOME AN INVESTOR?
- APPLICATION CHECKLIST
- FREE CONSULTATION
The Loan Lady
56100 29 Palms Hwy
Yucca Valley, California 92284
Tel: 760-365-7003
Fax: 760-365-7113
Email: loan_lady@verizon.net
What does it mean to lock the interest rate?
Mortgage rates can change from the day you apply for a loan to the day you close the transaction. If interest rates rise sharply during the application process it can increase the borrower’s mortgage payment unexpectedly. Therefore, a lender can allow the borrower to "lock-in" the loan’s interest rate guaranteeing that rate for a specified time period, often 30-60 days, sometimes for a fee.