Rate Lock Calculator
Calculate potential savings from locking your interest rate today versus waiting and risking rate increases.
Loan Details
Your estimate of rates at closing if you don't lock today
Lock Period
Recommendation
Lock Now
Monthly Savings
$68/mo
Lifetime Savings
$24,535
Rate Lock Comparison
| Metric | Locked Rate | Unlocked Rate | Difference |
|---|---|---|---|
| Interest Rate | 7.250% | 7.500% | -0.250% |
| Monthly Payment | $2,729 | $2,797 | $68/mo |
| Total Interest | $582,334 | $606,869 | $24,535 |
| Annual Savings | By locking today | $818/yr | |
Rate Projection (8 Weeks)
* Projected rates are estimates based on current market trends. Actual rates may vary.
Rate Lock Tips
- Lock when you're confident about your closing timeline
- Consider a longer lock period if your deal is complex
- Ask about float-down options that let you benefit if rates drop
- Lock extensions can be costly if you miss your closing date
Ready to Lock Your Rate?
Contact our team to discuss your rate lock options and secure your financing at today's rates.