Rate locks: how they work

A rate lock guarantees your interest rate for a set window — commonly 30 to 60 days — while your loan is processed, so a market move doesn't change your deal mid-stream.

When to lock

Once you're under contract (or ready to refinance) and comfortable with the rate, locking removes uncertainty. If rates fall meaningfully after you lock, ask us about your options.

What affects your locked rate

• Loan type, term, and your credit and down payment.
• The lock length — longer locks can cost a bit more.
• Whether you pay points to buy the rate down.

We watch the market for you and lock at a sensible moment — not a guess. Want a heads-up when it makes sense to move? Set a target on our rates page.

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