Bank of Ann Arbor - Wholesale Lending Division
 
Underwriting / Submission
Rate Lock
Closing / Funding
Rate Lock

  • Rate locks available for 15, 30 & 45 days

    •Longer locks available on a case by case basis and are subject to current market
     pricing
    •Locks may be extended prior to expiration
    •0-7 days .125
    •8-15 days .25

  • Extensions over 15 days are subject to worst case pricing based on current market conditions
  • Re-locks are available at worst case pricing based on current market conditions
  • Only one extension per loan, regardless of days extended. If additional time is needed, loan must be re-locked
  • Loan must fund on or before rate lock expiration. Closed loan package must be received within 48 hours of disbursement or loan may be subject to re-pricing.
  • Lock period is from 11:00 AM EST until 10:00 PM EST
  • If you do not receive confirmation within 24 hours, please call for a duplicate confirmation.
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