Which rate hold period applies to a given closing date (assuming you apply today)
When to submit an application in order to qualify for a specific rate hold
The number of days between any two dates.
Typically, mortgage planners do mental calculations to determine which rate hold applies to a client’s scenario. One thing that’s not easy to do in your head is figure out the weekday on which a given rate hold period ends. That matters because mortgages can’t usually close on weekends or holidays.
As a result, we’ve coded this calculator so that if a rate hold expiry date falls on a Saturday or Sunday, it shows the date of the preceding Friday.
This calculator does not factor in holidays, so keep those in mind.
Rob McLister, CMT
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