![]() However, if you want to extend your rate for an additional 15 days (which you can do twice) it will cost you 25 basis points, which means your mortgage rate will go up by 0.25%. Even one-tenth of a percentage point can add tens of thousands of dollars over the life of your loan. ![]() Locking in your rate can be helpful, particularly since interest rates are rising and are expected to keep going up throughout 2022. Rocket Mortgage charges most of the typical fees that all lenders do, but there isn’t a fee to lock in an interest rate for 45 days. What are Rocket Mortgage’s terms, fees and conditions? Jumbo loan: 10% minimum down payment required.Conventional loan: 3% minimum down payment required. ![]()
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