The longest locking period for CRV is typically 4 years, however, some lenders may offer an extended locking period of up to 5 years. This extended lock period may be beneficial for borrowers who need more time to pay off the loan, as it offers a longer period of time to make payments without the risk of rising interest rates. However, it is important to note that extended lock periods may come with additional fees and costs, so it is important to weigh the pros and cons before committing to this option. Additionally, it is important to make sure that the lender you are working with is reputable and will honor the extended lock period, as some lenders may not offer this option.
