← Answered questionsSeller playbook
Can a buyer's mortgage rate lock expire during co-op board review?
Yes, and this is a hidden deal-killer. Standard rate locks last 30-60 days, but co-op board processing takes 8-12 weeks. If the lock expires and rates have risen, the buyer's monthly payment increases, potentially pushing their DTI ratio above the board's 30% cap - resulting in rejection. Require buyers to secure extended 90-120 day rate locks before signing the contract.
From the seller playbook: Financing Timeline Compression
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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