You can lock your interest rate only if you have applied for one of the following products: 15-year or 30-year Fixed Rate Mortgage.
Any time between when your application is submitted for processing and when the final closing documents are drawn, you may "lock" in your interest rate with us. Here's how that process works:
In many states, we require a rate lock fee in order to lock your rate. After you notify us that you want to lock your rate, we will send you a rate lock agreement and request payment of this fee (if applicable).
Important: Please carefully consider the timing of your lock request. Unfortunately, if interest rates decline after your lock has been confirmed we cannot renegotiate your lock. You should only lock a rate when you are certain you are comfortable closing your loan at that rate and within the designated period of time.