General Statement

The interest rate market is subject to movements without advance notice. Locking in a rate protects you from the time that your lock is confirmed to the day that your rate lock period expires.

Lock-In Agreement

A lock is an agreement by the borrower and the lender and specifies the number of days for which a loan’s interest rate and points are guaranteed. Should interest rates rise during that period, we are obligated to honor the locked rate. Should interest rates fall during that period, the borrower must honor the locked rate.

When Can I Lock?

In some cases, your online application will provide all the information needed and you will have the option to lock by contacting us at 413-589-9966 Ext. 2.


We charge a fee for locking in your interest rate of $500. This amount will be credited to your closing costs provided you close your loan within your lock-in period.

Lock Period

We currently offer a 60 day lock-in period. This means your loan must close and disburse within this number of days from the day your lock is confirmed by us.

Lock Confirmation

You will be required to sign a Rate Lock Agreement to confirm your intent to lock-in your loan.

Lock Changes

Once we accept your lock, your loan is committed to the terms of your Rate Lock Agreement. Should you wish to renegotiate your Rate Lock Agreement your $500 fee will be forfeited; and we will discuss another Rate Lock Agreement with you. Rate lock fee will be automatically refunded on denied loan applications.