Lock in mortgage rate before signing purchase contract?

Categories: Mortgage

As far as I know this is not possible (need contract first), and yet the potential buyers of our coop, who are planning on signing the purchase contract later next week, mentioned that they will be locking in a mortgage rate earlier in the week. I’m wondering if the buyers are not being properly informed by their mortgage broker. Any thoughts?

By mdmh | 03/14/2008 1:56 PM