The iLoan Lock and Shop Program

Many buyers are concerned about rising mortgage rates and the implications on their plan to buy a home or sell their home and then buy another home.  The frequent question is, “Can I lock in my interest rate before I find my home?”  Typically one can’t do this until they have a fully executed purchase agreement and this amplifies a homebuyer’s fear prior to going under contract to buy their dream house.  Now, with the iLoan Lock-N-Shop program, this fear can be put to rest.


Here’s an outline of how it works:

  • The lock may be for 60 or 75 days, but you must deliver an executed purchase agreement to iLoan within 25 days of the lock date to maintain the lock. The initial lock confirmation will reflect only a 30 day lock, but once the purchase agreement is received, an updated lock confirmation will be delivered to you reflecting the remaining days of the initial lock (to the 60th or 75th day, as applicable).
  • Offered only on conventional conforming fixed rate, conventional conforming high balance fixed rate, VA fixed rate, USDA, FHA fixed rate, and FHA jumbo fixed rate products.
  • Available for purchase transactions only.
  • There is no up-front fee required.
  • A .25 point price adjustment (0.25% of the total loan amount) to our 60 or 75-day price will be reflected in the price of the lock, in addition to any other applicable loan level price adjustments.

This program isn’t for everyone but it’s another way that iLoan tries to innovate to meet the demands of their clients and Realtor partners.

Charles Dailey – Branch Manager, Loan Officer, Certified Military Housing Specialist – CA DOC, MN DOC & WI DFI


The ONLY civilized way to search for homes!

The Home Buyers Scouting Report® is provided directly to the buyer by HBM II, a licensed national real estate brokerage service company, not to or through a lender. The FREE home finding service is provided directly to prospective homebuyers by HBM II and its real estate brokers, as part of their ordinary real estate brokerage services. HBM II, Inc. works cooperatively with other real estate agents across the United States in attempting to find ready, willing and able buyers for homes listed for sale. The role of the Preferred Loan Officer is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. (HBM II) to use when it is searching for property listings within the buyer’s search criteria.