Rate Reservation Policy

Once you click Get Started and view your new interest rate and payment options, you will be given the option to reserve your interest rate and go to the application section.  By selecting “Reserve Interest Rate And Go To Application” you are securing your interest rate, payment and loan program for 48 hours.  Your rate reservation is valid for 48 hours from the time the rate is selected and the application is completed online.  The signed disclosures and requested documentation must be returned to Close Your Own Loan.com within 48 hours or your rate reservation will be lost and your interest rate will reset to current market rates. 

The interest rate that you reserved will be stored in your secure online account and available for you to view at any time. 

Once your signed disclosures and items needed have been received, one of our experienced processors will obtain a loan approval from our automated underwriting engine.  This automated underwriter is able to issue a complete approval in a matter of minutes, thus taking the guesswork out of the home loan process.  Assuming your loan is approved by the automated underwriter, you returned your application within 48 hours and there are no changes to your qualifying criteria, your loan will be locked in at the interest rate and program that was reserved. 

Once locked, a formal rate lock confirmation will be sent to you.  This confirmation will also be available to view at any time in your secure account section along with the good faith estimate, disclosures and any other loan information applicable to your transaction. 

Click Get Started to see how much you can save and reserve your interest rate.

Speak With A Loan Coordinator 

Would you prefer to speak with a Loan Coordinator over the telephone?  Please call us directly at   1-800-276-CYOL(2965) and choose option 1.  Or, click here to have one of our experienced representatives contact you directly. 

*Not all applicants will qualify and rates are subject to change without notice.