Locking Interest Rates & Points

To protect the cost of your mortgage from market changes, we offer three kinds of rate-and-point locks:

• Standard Lock. Locks in current rate immediately.
• Float to Lock.* You determine when to lock in rate, anytime between application and issuance of closing documents. Goes into effect at the time you lock between application and loan documents' submission to settlement or closing agent.
• Freedom Lock.* Apply at current rate, but have one-time-only chance to lock in a lower rate during commitment period. (You must call in to lock the rate for the one-time re-lock.) Requires a non-refundable Freedom-Lock fee, 0.25% of the mortgage amount. (Freedom Lock not available on VA loans.)

*The final interest rate on your loan will be based upon financial market conditions, mortgage loan product, specific requirements of your loan transaction such as the loan-to-value ratio and your credit profile up to the time of closing.

Locks are good for 30 days on refinances and 60 days on purchases. On purchase mortgages, (not refinancings) commitments for 90, 120 and 180 days are available for additional rate/points. Origination fee is 1% of the mortgage amount, unless you select a no-point option.