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• The process by which a lender commits to lend at a particular rate as long as the mortgage transaction closes within a specified time period. The document which specifies the terms of the lock-in is called a rate commitment or lock-in agreement.

  State of New Jersey, Department of Banking & Insurance - Cite This Source - This Definition
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  Cite Definition for Lock-In

  American Psychological Association (APA)

  Lock-In. (n.d.). Glossary of Common Mortgage Terms. Retrieved April 1, 2023, from website: http://www.expertglossary.com/definition/lock-in.

  Chicago Manual of Style (CMS)

  Lock-In. www.newjersey.gov. Glossary of Common Mortgage Terms. State of New Jersey, Department of Banking & Insurance. http://www.expertglossary.com/definition/lock-in (accessed: April 1, 2023).

  Modern Language Association (MLA)

  "Lock-In." Glossary of Common Mortgage Terms. State of New Jersey, Department of Banking & Insurance. 1 April. 2023 http://www.expertglossary.com/definition/lock-in.

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