Mortgage Rate Lock: When Do I Lock In My Interest Rate?

A mortgage rate lock freezes your interest rate until loan closing to protect your homebuying power from rate hikes.

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Updated · 4 min read
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It's tough to keep up with mortgage rates. They change every day, and they’ve tended to rise in recent years.

But once you've been approved for a home loan, you can stop your rate from increasing with a mortgage rate lock — a move that could save you thousands of dollars over the course of the loan.

Here's what you need to know about locking in a rate.

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New American Funding - PURCHASE logo
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4.5

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500

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on New American Funding

Rocket Mortgage - PURCHASE logo
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on Rocket Mortgage

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580

Min. down payment 
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Veterans United - PURCHASE logo
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on Veterans United

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Mortgage loans from our partners

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Veterans United - PURCHASE logo
Check Rate

on Veterans United

Veterans United

4.5

NerdWallet rating 
Veterans United - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on Veterans United