Home Buyer Closing Timeline Cost Calculator
Rate locks protect your interest rate while your loan closes, but delays can force you to pay extension fees. Enter your loan details to see the total cost of extending your lock.
About this calculator
Estimate the cost of extending a mortgage rate lock beyond your original lock period, including daily extension fees and potential savings versus floating.
Frequently Asked Questions
What is a rate lock extension fee?
Lenders charge a fee, often expressed in basis points of the loan amount per day, to extend your locked interest rate if closing is delayed beyond the original lock period.
Should I extend my lock or float my rate?
Compare the guaranteed extension cost to the potential cost if rates rise while floating. This calculator estimates both so you can weigh the risk.
Are extension fees negotiable?
Sometimes, especially if the delay is due to lender processing time rather than borrower-caused delays. Ask your loan officer.