Lock then Shop Program

Member First Mortgage will lock an interest rate on an application for the purchase of an owner occupied 1-4 family residential dwelling* for up to 90 days with the following conditions:

The loan must be a conforming loan that receives an Approve Eligible through FNMA Desktop Underwriter or an Accept Finding through Freddie Mac’s LP System.

The interest rate will be locked at .25% above the current published rate on the day of the rate lock.

Should the rate be lower 30 days prior to closing, the member will automatically receive the benefit of the lower rate (without a fee).

The applicant must provide a completed purchase agreement and close within 90 days from paying the $250 non-refundable Lock then Shop Program deposit.

The loan must close under the Locked Term and Rate*. If the loan amount exceeds the approved limit an additional credit approval may be required.

This offer is limited and may be withdrawn at any time without notice.

† Loans for refinance, vacant land or home improvement do not qualify for the Lock then Shop Program. All loans are subject to credit approval. This offer is not an offer for financing; each applicant must submit a completed application and required credit documentation to receive the loan approval and the Lock then Shop Program Certificate.