Is there a standard point structure for buying locks or is it up to the broker? For the person I'm talking to it is 3/4 pt for a 120 day lock and 1.15 pt for a 150 day lock. Seem legit?
Extended locks can vary. Once you get past 90 days it is really more the Lender that you are dealing with. Is this a construction property? The first 90 days normally separate themselves by .25/point each 30 days. But once you hit 90 days it starts to adjust widely....as many lenders won't go 150 days.