Rate Locking

Once a property is located and an offer is accepted, you will have an opportunity to lock your interest rate with one of our lenders. Available lock periods vary by lender, and range from 15 to 180 days. As a general rule, shorter lock periods have lower rates. Typical rate lock periods are 60 days for a purchase and 45 days for a refinance.

Some of our lenders allow you to lock in your interest rate and obtain a lower rate if interest rates improve. Please ask one of our mortgage consultants if you are interested in a program with this float-down option. This option is generally not available on fixed-rate mortgages.