What is a Rate Lock?

General Statement

The mortgage interest rate market is subject to movements without advance notice. "Locking" in a rate protects you from the time that your lock is confirmed to the day that your lock period expires.

Lock-In Agreement

A lock is an agreement by the borrower and the lender and specifies the number of days for which a loan's interest rate and discount points are guaranteed. Should interest rates rise during that period, we are obligated to honor the committed rate. Should interest rates fall during that period, the borrower must honor the lock.

When Can I Lock?

Please contact your HomeQuest Mortgage Loan Officer at 1-866-839-1117 to discuss your rate lock options.


We do not charge a fee for locking in your interest rate.

Lock Period

Our normal rate lock-in periods range from 15 to 60 days. This means your loan must close and disburse within this number of days from the day your lock is confirmed by the lender. Should you require an extended rate lock period (60-120 days), please contact your HomeQuest Mortgage Loan Officer at 1-866-839-1117.

Lock Changes

Once we accept your lock request, we cannot renegotiate lock commitments with our lenders, unless pricing improves nearly 50bps.