Rates may be locked for 10 calendar days at no charge once your loan has been unconditionally approved. If the loan is not closed by the end of the rate lock period, the rate will be re-locked at the higher of:

1. The market rate at that time.
2. The original locked rate.

A re-locked rate is valid for an additional 10 days.

30-Day, 45, and 60-Day locks are available: You may have your rate locked for up to 45 days at a cost of $500; for 60 days at a cost of $500 with an additional 0.125% being added to the loan rate. Longer term rates between 90 to 240 days are also available on certain loan products and costs will be determined at the time of the request.

We must receive payment for the rate lock prior to the rate being locked. If the loan is not closed by the end of the rate lock period, the rate will be re-locked at the higher of:

1. The market rate at that time.
2. The original locked rate.

A re-locked rate is valid for an additional 10 days. Money paid to lock a loan rate will be credited to the borrower when the loan closes. The following rules apply to a cancelled loan application where the applicant has purchased an extended lock:

1. If the loan applicant cancels the loan, any money paid to lock the rate will be forfeited by the loan applicant.
2. If Barrington Capital Corporation cancels the loan, any money paid to lock the rate will be refunded to the loan applicant.
3. If the loan is a purchase transaction that is cancelled by anyone other than the loan applicant, any money paid to lock the rate will be refunded to the loan applicant.