Looking for a new home is very exciting, but fluctuating interest rates can add stress to what should be an enjoyable experience. Homestead’s Lock and Shop program can help you avoid the uncertainty of rising interest rates!

What is Lock and Shop?

Lock and Shop is a program that allows our borrowers to lock in today’s rate, providing homebuyers peace of mind while they are shopping for a home.

‍How does it work?

Utilizing Lock and Shop is super easy!  All you need to do is complete a HomeXpress pre-approval.  Your Loan Originator can walk you through the documentation needed. Then your file will be ready to go, and all you will need is a fully executed sales contract.

‍Key features and benefits of the program

• Utilized with our HomeXpress preapproval program to make the lending process quick and easy.
• Peace of mind while shopping for home.
• Opportunity to save money should interest rates continue to rise.
• Interest rate protected for 70 days.**
• No additional fees for Lock & Shop
• Available for FHA, VA, USDA, and Conventional programs

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*Certain terms and conditions and exclusions apply. Not available in MA and OR. Program guidelines and availability are subject to change at any time. **A property must be under contract by the 30th day to qualify. Effective 5/31/22.

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