Finance
A Maryland lender's 'lock-in' allows the buyer to:
ALock in the purchase price for 90 days
BGuarantee their interest rate for a specified period while the loan processes✓ Correct
CLock in the property for 60 days without a contract
DPrevent the seller from accepting other offers
Explanation
A rate lock guarantees the borrower a specific interest rate for a set period, protecting against rate increases while the loan is processed and the property goes to settlement.
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