Should Someone Get A Rate Lock For Their Loan

Should Someone Get A Rate Lock For Their Loan

Depends on one's cash flow and the rate lock APR. Use the HELOC calculator to see whether a 0.5% to 1% interest rate increase (i.e. without a rate lock) would still work based on the monthly positive cashflow. If the yearly increase is too much for the given cashflow, then a rate lock is most likely a good idea.

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