Inlanta Lock and Shop

Do you want to lock in your mortgage rate, but haven’t found a property yet? The Inlanta Lock and Shop program allows you to lock your interest rate while you shop for your new home.

Features and eligibility requirements of the Lock and Shop Program include:

  • No Fees to Lock and Hold Your Rate!
  • Fixed rate purchase mortgage only
  • Minimum FICO of 640
  • 72-day lock period*, extension limits apply

Benefits of Lock and Shop

  • Save Money – If you’re concerned that even a small interest rate increase could cause a budget problem, you can be more confident what your payment will be up front
  • With a preapproval that includes a locked rate, borrowers are more likely to close their loans, giving them the step up on other buyers in a competitive market
  • Gives You the Buying Advantage – Expedite your home-buying process by locking in a low rate and getting a fully underwritten pre-approval that lets the agents and sellers know that your chances of closing the loan are much higher, and the process should move quicker and easier
  • Peace of Mind – By locking in a rate before you search for your home, you can be assured your rate won’t change when you put in your offer to purchase. You’ll avoid potential mortgage increases that can happen when rates rise between the time of offer and the time it takes to prepare, document and evaluate your loan application.

More on Rate Locks

A lock-in, also called a rate-lock or rate commitment, is a lender’s promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed.

*Lock extensions are limited to no more than 30 days past the original 72-day expiration. . Restrictions apply on locked loan amount changing and product locked cannot be changed without voiding price protection. The loan must be conventional, FHA, USDA, or VA and carry a fixed rate. The final loan amount cannot vary by more than 20% of the original lock protected loan amount. The loan program may not be changed without voiding the rate lock protection. If a property is not found within lock period, the lock is cancelled.