I've just contracted for a new house in Florida to be built. The closing won't occur for approximately a year. Is there a way to lock in a mortgage interest rate for so long in the future? It will be a conforming loan.

UPDATE: i ended up checking with several sources for the mortgage. Without doing anything special, I picked a plan that had a 60 day lock and closed about 45 days after I locked.

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    Have you called the bank you plan to use? It's common to pay some number of points up front for a rate lock. Commented Jan 28, 2013 at 13:19

1 Answer 1


From personal experience, the longest Rate Lock window I've seen is 90 days. However, most lenders offer rates that can be locked in for 15/30/45/60 days.

Keep in mind, the longer the Rate Lock timeframe the higher the rate comparatively. This is a result of the risk the lender is incurring to guarantee you that rate for that period of time. Effectively, the lender runs the risk of rates increasing (the cost of money increasing) while still having to honor their contractual obligation to you.

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