Am I Supposed to Lock My Rate After I Receive My Loan Approval?

No. The type of your mortgage transaction will dictate the latest you can lock your rate. If you are:

Purchasing you’ll need to lock your rate before the underwriter can clear your loan to close.

Refinancing you’ll have to lock your rate prior to submitting the loan to the underwriter.

Guaranteed Rate, your resource for reliable, easy-to-understand mortgage information. 


Access Guaranteed Rate’s eBook Library

Time to Refinance Your Mortgage?

Appraisals Explained

The Low Down on HARP

Your mortgage. Your way.

Get started on your Digital Mortgage!
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.