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I have been lurking here for a while, and I have also done a search but didn't find exactly what I was looking for. Here is the situation: We are pre-approved (quite easily) for a conventional loan given current interest rates. The house won't be completed until Nov 1 more or less. So we can't really lock in on a rate. But we are getting a little bit of pressure to find a rate and lock in or something like that. I guess the builder wants to know we are serious (??), even though he's got some earnest money and we did go about the process of getting pre-approved, etc. Anyway, I'd just like to know what is typically done around new construction.

Any input welcome! Thanks in advance.

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