usda interest rates

[Anonymous]

I am in the process of buying a newly built home and my question is at what point does the interest rate lock in on the usda loan? Will the rate be the rate that it is currently or will it be the rate I was quoted several months back?

[dehabel]

I was able to lock 60 days out and it was the rate on the day I locked.

[Anonymous]

Let's say I was quoted a rate of 4% and I still have not signed. Will I be able to get the rate that is now, let's say it is 3.75%

[dehabel]

That is waht happened to me.

[Anonymous]

My first rate was 4 something when I began, but when I locked in my rate it was 3.75%, so you will most likely get the current rate on the day you lock it in. Good news, but bad if the rate increases!