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makes sense. even on a car loan, it's not 100 pct what rate you'll be until you lock it in

We are nationwide commercial lender. That does indeed sound correct. Because the rate is based on several factors some which could change during the processing/and or underwriting of the loan.
Once they UW and approve your loan they should then be able to give you a rate as well as the option for you to lock or float it.
Open Door Financial 864-248-0382 jodyphillips@opendoorfinancial.com

While the bank cannot "circle" your fixed rate until loan closing (or perhaps a day or two prior), the bank should be able to tell you today the exact interest premium or spread they will charge you over their cost of funds.

For example, in the case of a twenty year loan, they may set final pricing based upon a ten year treasury swap rate plus a spread of 3.50%. The bank cannot guarantee you today that the ten year treasury swap rate won't be different at closing, but they can fix the 3.50% spread.

Hope this is helpful.

Marshall Lebovits
www.Funding911.com