Lock, Shop, and Go

Highlights

• Guarantees your rate for 90 or 120 days without requiring a fully executed contract*
  *A property needs to be identified within 30 days of lock expiration. For real estate industry professionals only; not for distribution to consumers.
• Takes away the stress of a short-term rate lock for a better buying experience
• If rates fall, you have the option to “float down” to a lower rate 30 days before closing when locking on a 120-day lock

Eligible Programs and Terms

• Conventional, FHA, and VA with 15-year or 30-year fixed rates
• USDA with 30-year fixed rates
• Purchase transactions only

Other Requirements

• Borrower pays an upfront fee of 0.500% on a 120-day lock – Refundable if they aren’t approved for the loan
• Loan must close and fund before the lock expires