Can Lender change rate after an email confirmed rate locked?

[Anonymous]

This is a second post. If you have inside knowleges or had experiences with this type of situation. Please share with us. Thanks

[DallasLoanGuy]

what happened?

i dont think there is any rule that says a rate lock is a guarantee. locks expire,  

[Anonymous]

I am so worry so much since I locked the rate goes up by .5%  It's not expire until March 2nd.

He already charged my CC for appraisal and credit report. If I understand as soon as we locked the rate, it will not change until the expiration with email confirmation and on GFE. I just worry too much because it is a big loan 625K and the rate 4.75% is so good comparing to our current rate 6.375% (30yrs fix)

[Anonymous]

Oh I see. Dallas, I think OP is wanting confirmation that locking rate via email will secure his rate. Makes him/her nervous that it was done via email and he/she notices rates are climbing a little. Doesn't want to find out later rate never actually get locked.

Is this right, OP?

[Anonymous]

Yes right.

Another reasean LO is not in my area (not locally). He's in head quarter, out of state application office. I can't wait until the settlement day.