Oakland University Credit Union

We're here to help.

Help Topics

Loans

Home Loans

Accounts

Account Access

Account Services

Account Management

Branch Services

General

Loans

Visa

Accounts

Branch Services

General

Loans

Visa

How much does a rate lock cost?

There is no fee to lock in your interest rate. If the rate goes down during your mortgage process and you want to take advantage of the lower interest rate, you may re-lock the rate up to two times. The re-lock fee is only 0.1% of the loan amount, no less than $250, no more than $1,000.

For example:

• A $400,000 loan would have a $400 re-lock fee

The option to lock or re-lock your interest rate is available up until 10 days before your mortgage closing.

< previous next >

Was this information helpful?

Yes, thank you

No, not really

Please let us know how we can make this better.

Great!

Thank you for your feedback!

If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 800-766-6828 for assistance. All products and services available on this website are available at all OU Credit Union full-service locations.

Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

Equal Housing Opportunity

Federally Insured by NCUA

NMLS: 405297

Oakland University Credit Union accounts are held at Michigan State University Federal Credit Union where savings are federally insured to at least $250,000 by the and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. APY = Annual Percentage Yield. and read our disclaimer regarding links to other sites.

This Website Uses Cookies X

We use cookies to personalize our services and provide you with the best possible experience on our websites. By continuing use, you agree to this cookie usage. You may be able to delete or otherwise manage cookies through your browser settings. View our Privacy Notice and CCPA Notice.

Your Wallet