Oakland University Credit Union

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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.

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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.

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