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Glossary of Terms > L > Lock

Lock

A lock is an agreement in which the home mortgage lender guarantees a specified interest rate for a certain amount of time. As in, your rate is locked until March 1. The time period during which the lender has guaranteed a rate to a borrower is known as the lock-in period.

L Terms

Lease

Lease Option

Liabilities

Lien

Life Cap

Line of Credit

Liquid Assets

Lis Pendens

Listing Price

Loan

Loan Officer

Loan Origination

Loan Servicing

Loan-to-Value Ratio

Lock