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Glossary of Terms > L > LOCK-IN

LOCK-IN

No, it's not when you're trapped in the lender's office and can't get out. Rather, a lock-in is an agreement in which the mortgage lender guarantees a specified interest rate for a certain amount of time. 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 (LTV)

LOCK-IN