Locking in Your |Rate|

If you are pre-approved, you will be presented with an option to lock your rate. If you choose to lock your rate, it will be good for 60 days. The rate lock protects you from the rates going up, but there is no benefit if the rate declines. Should you cancel your loan request once your rate is locked, you are prohibited from re-applying for a loan with the same property address for 30 days from loan cancellation date. If you cancel, and make application after 30 days from the loan cancellation date, the rate in effect at that time is the applicable rate.

If you don't want to lock your rate upon submission of your application, you will automatically be in a float status. This just means that you watch the rates and when you are ready to lock, you may do so by logging back into your application or speaking directly with your loan processor. Lock requests left on voice mail cannot be honored. You must lock your rate at a minimum 5 business days before closing.

All rate locks must be locked by speaking to a live person or online through NetLoan. You will not be able to request an earlier posted rate under any circumstances.

Rates are subject to change at any time. There is a scheduled rate update every business day between 10 a.m. and 11 a.m. You will not be able to lock in a rate during this time frame.

Rates and/or points are based on several factors including but not limited to: property type, loan to value, loan purpose, credit score and subordinate financing.