What is your rate lock policy?

General Statement: The interest rate market is subject to movements without advance notice. Locking in a rate protects you from the time that your lock is confirmed to the day that your lock period expires.

Lock-In Agreement: A lock is an agreement by the borrower and the lender and specifies the number of days for which a loan’s interest rate and discount points are guaranteed. Should interest rates rise during that period, the lender is obligated to honor the committed rate. Should interest rates fall during that period, the borrower must honor the lock.

Timing: You may lock your rate by contacting one of our Loan Officers at 1-866-742-5158.

Fees: We do not charge a fee for locking in your interest rate.

Lock Period: We offer various lock-in periods and you should discuss your options with your loan officer. Your loan must close and disburse within the lock period from the day your lock is confirmed by us.

Lock Changes: Once we accept your lock, your loan is committed into a secondary market transaction. Therefore, we are not able to renegotiate lock commitments.