Get Rate Lock Agreement Form

Filling out the Rate Lock Agreement Form online is a crucial step in securing your mortgage loan with favorable terms. This guide provides a clear, step-by-step approach to assist you in completing the form accurately and efficiently.

Follow the steps to complete the Rate Lock Agreement Form online.

1. Click ‘Get Form’ button to obtain the form and open it in a suitable editor.
2. Begin by filling in your name as the applicant in the designated 'Applicant Name(s)' field. Ensure that the name exactly matches your legal identification to avoid discrepancies.
3. Provide the 'Property Address' where the mortgage loan will be secured. This should include the full address including street, city, state, and zip code.
4. Enter the amount of the loan you are applying for in the 'Loan Amount' section, ensuring you include the proper currency format.
5. Indicate the 'Loan Term' in months, typically either 360 months for a 30-year mortgage or 180 months for a 15-year mortgage.
6. Select the 'Loan Type/Purpose' that applies to your situation. You may need to check the box next to either 'Purchase' or 'Refinance' depending on your loan needs.
7. Identify your lien position by checking the appropriate box under 'Lien Position', either 'First' or 'Junior'.
8. If applicable, indicate whether there is a balloon payment by checking 'Yes' or 'No' in the 'Balloon Payment' section.
9. Fill in your preferred interest rate in the 'Fixed Interest Rate' section and follow any required instructions regarding variable rates if applicable.
10. Complete any additional provisions relating to changes in your interest rate, if they apply.
11. Review all filled sections for accuracy and completeness before proceeding.
12. Once all fields are complete, you may choose to save changes, download, print, or share the form as necessary.

Take the next step in your mortgage journey by completing the Rate Lock Agreement Form online today.