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The Mortgage Professor: Locking the mortgage price: Some questions for your mortgage lender

You have identified the mortgage lender with whom you wish to work, based at least in part on a price quote. You probably know that the price quote doesn't mean anything until it is locked, but few borrowers know all the steps required to get to the lock and the possible costly missteps in the process. The rules and procedures surrounding the lock process vary from lender to lender and are not subject to any mandatory disclosure requirements.

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