Many first time home buyers choose a mortgage rate lock to increase their peace of mind. Due to fluctuations in the mortgage loan market, even on a weekly basis, there is no guarantee where mortgage interest rates will be at any point in time. Prospective home buyers may choose to lock their mortgage interest rate for 30-90 days. The borrower agrees to accept that locked mortgage interest rate no matter where the interest rate may be at the time of signing the loan. Since the market can go up or down, choosing to lock ones rate is dependent on how much risk one is willing to take. We get a lot of questions about how our rate locks work. Especially if the rate goes down after your interest rate is locked. You may read the entire rate lock policy by going to the Printable Loan Application section and reading it.

Our goal at Western Capital Mortgage Services, Inc. is to provide you with the lowest interest rates available in the market today. We work closely together with you (The Borrower/s) to complete your real estate financing quickly and as efficiently as possible.

Once your interest rate is "LOCKED IN", it is your responsibility and commitment to work with us and the lender to get your loan funded in the time period allowed by the lock. Once you have applied for a loan you may lock in your interest rate the same day. If your lock expires and the market is worse we will attempt to get your lock extended; however, we can not make any guarantees. It is important that all your documents are returned as quickly as possible.