We offer online locks for 30, 45 and 60 day periods.  Refinance transactions may be locked at the time of loan application. Purchase transactions may be locked once you have an accepted offer on a property.  You may apply and lock online, 24/7.

1. How Do I Lock?
   
   When you submit your online application, it will be analyzed by our Automated Underwriting System while you wait and, in most cases, be immediately approved.  You will then be given the option of locking or floating your rate.  In the event our Automated Underwriting System is unable to provide an instant online approval, your application will be forwarded to a Loan Consultant who will contact you to resolve any issues with your loan application.  You will receive a Lock Confirmation by email the day you lock (or the next business day if locked after hours or on the weekend). 
   
   
2. Are Any Fees Collected When I Lock?
   
   No fees are charged to lock your rate. 
   
   
3. What If Rates Fall After I’ve Locked?
   
   At the time we are ready to draw your loan documents, if our posted rates are at least .25% lower in rate for the same points or rebate that you originally locked, you may float down your rate. The new rate will be half way between your original rate locked and the current posted rates. For example, if you locked 6.75% at zero points and our posted rate is 6.50% at zero points, your float down rate would be 6.625% at zero points.
   
   
4. What Happens if the Loan Process Takes Longer Than My Lock Period?
   
   If the delay is caused by us, or a third party service provider selected by us, we will extend the lock at no cost. If the delay is caused by you, or a third party service provider selected by you, you will be required to pay for the cost of the lock extension. Delays caused by you could include requesting the subordination of an existing second mortgage or home equity line, not supplying supporting documentation within three days of our request and delaying appraisal inspections or document signing appointments.
   
   
5. What is the Cost of a Lock Extension?
   
   In the event current rates are better than the rate you originally locked, you will receive a free 7-Day Extension.
   
   In the event current rates are worse than the rate you originally locked, you may select from the following lock extension periods:
   
                   7-Days:    .125 point extension fee
                   15-Days:  .250 point extension fee
                   30-Days:  .500 point extension fee
   
   If your loan has not closed by the end of the extension period you select, any further lock extensions will be re-priced at the worse-case scenario between the pricing you originally locked and current pricing.
   
   
6. Can I Choose a Different Program or Rate After I’ve Locked?
   
   You may but you will receive worse-case pricing of either the pricing you originally locked into or the current available pricing. In addition, an extra .125 points will be charged for changing your original terms. Therefore, please carefully consider the different programs and rates being offered before locking.
   
   
7. Can I Relock My Rate if I Cancel and Reapply?
   
   You may but you will receive worse-case pricing of either the pricing you originally locked into or the current available pricing.  In addition, an extra .125 points will be charged for changing your original lock terms. 
   
   
8. Should I Lock or Float my Rate?
   
   On a refinance transaction, if the savings you will achieve with the new lower rate will recapture the closing costs of the loan in a relatively short period of time, you should probably go ahead and lock your rate and close your loan. Trying to time the bottom of an interest rate cycle is tricky and each month you delay costs you in the form of carrying a higher interest rate on your old loan. If rates fall further, you can always refinance again.
   
   On purchase transactions, in times of stable interest rates, most of our customers lock when they are within 30 days of their close of escrow. Locking for a period longer than 30 days increases the cost of the loan slightly but is sometimes a good idea if rates are volatile. If your close of escrow is more than 30 days out, we recommend you compare rates and points on our website for 30, 45 and 60 day locks and make your decision accordingly.