Any bankers in the house?
Here’s the deal. I just made an offer to purchase property. Lender A provided me a pre approval letter today. The rate also just increased today. I just submitted a mortgage application with Lender B who offers a lower rate.
If the offer is accepted, Lender A will lock me in right away for 60 days. If Lender B turns out to be a better deal, can I then break my rate lock with Lender A (penalty free) and proceed with Lender B?
Any insight would be greatly appreciated.
/s/
Very Exhausted FTHB