Loan Articles > Pennsylvania > Lender Hiked the Locked-In Rate for My Erie, PA Mortgage

Home mortgage rates are one of the most important things that each individual, who is seeking to get a mortgage, looks for. Generally, devising a plan of action is suggested for determining when to lock-in a mortgage interest rate. A lot of people do devise a plan for locking-in a home mortgage rate and act on it too, but still fail to get any benefits from that planning. This is caused due to a very small but very basic mistake of not getting everything in writing.

So it doesn't come as a surprise that the mortgage lender hiked the locked-in home mortgage interest rate on your Erie, Pennsylvania mortgage. Sometimes the mortgage lenders might tell you verbally that a particular interest rate (the prevailing home mortgage rate) has been locked-in for your mortgage (when you ask them to lock-in a mortgage interest rate). However, without written proof, any and all financial transactions are meaningless. So if you don't get the locked-in home mortgage rate (and the lock-in time period) in writing, you are not actually locking-in a mortgage rate and when you approach the mortgage lenders, they might say that the lock-in period has expired (and the locked-in rate for your Erie mortgage is no longer applicable).

So get things in writing, lest you end messing things up and come back saying -"The mortgage lender hiked the locked-in interest rate for my Erie mortgage". As far as mortgage offers go, you can get good mortgage offers through a website like www.uslso.com.