Can You Get a Rate Lock on a CMBS Loan?
One of the few major downsides of CMBS loans is their reputation for lenders re-pricing the loan just days before closing. Unlike other types of large real estate loans, getting an early or extended rate lock on a CMBS loan is pretty much unheard of. However, many lenders do offer 30-day rate locks on certain CMBS loans in order to make their loan products more attractive to potential borrowers. As a borrower, this can help reduce your financial risk— and, could help you sleep better at night, since you know that your interest rates won’t suddenly skyrocket a day or two before closing.