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Lock & Shop Programs

Who says you can't have your cake and eat it too?  Our lending partners are proud to offer lock and shop programs that will give you the ultimate peace of mind in the home shopping process: being completely shielded from rising interest rates while you search for the house of your dreams.  We understand that finding the perfect home for you is no overnight journey, and we have solutions to match.

And if rates fall after locking, we'll even make adjustments to reflect that.

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Watching interest rates rise while sitting helplessly on the sidelines, knowing that you can't lock your rate in without a purchase contract, is a frustrating experience for anyone.  Home searches can take months.  Some even take years.  Finding the perfect home that checks off all the boxes may not be a quick process.  Don't embark on a long journey without packing your bag; take our assurance of a low rate along with you.

Let's browse some of the highlights:

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  • Extremely Fast Turn Times

  • Lock a Rate Up To 365 Days  

  • Full Protection Against Future Rate Increases

  • Fully Underwritten Preapproval, Eliminate Doubt

  • Option to Float Down Rate If Interest Rates Drop

 

As this lock and shop program is an added feature to conventional, FHA, and VA loans, please visit the info pages for these programs for more information.

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Getting Prepped for Approval

Documentation requirements for Lock and Shop programs are identical to the base loan programs they are attached to.  Therefore, nothing about the required documents change; the only difference is that an initial round of underwriting occurs to verify your creditworthiness and financial qualifications, so that the only variable left is the property you find.  


Though these prime loan products may be demanding with documentation, your subsequent airtight approval will qualify you for competitive financing options.  To see what documents you'll need for underlying programs, check out our prior to approval checklist page.

Don't know what you need? 

Want professional advisement?

Contact Us

Navigating the mortgage process isn't the most straightforward procedure.  It can be stressful, confusing, invasive, and with the wrong team, an absolutely awful entanglement of corporate greed, poor service, and empty promises. 

 

On such an important transaction, especially for first time homebuyers, consultation from a professional who puts their clients' needs first is a must.  Let us demystify and break down the mortgage process for you, and you'll see that in spite of its initial complexity, it is a powerful tool that will guide you into property ownership and begin building you generational wealth.  

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All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENTS WEB SITE AT WWW.SML.TEXAS.GOV.

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© 2022 by Ryan Hur, HP Mortgage LLC, NMLS #1456273, an Equal Housing Opportunity Lender
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