• Tel: (651) 552-3681

    Home Purchase - Home Refinance
    Serving MN WI IA ND SD

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  • Top rated locally and nationally, year after year... This is because clients agree - interest rates you can brag about and amazing service sets us apart from the big banks and out state internet lenders.

  • Locking Your Loan

    Locking of your loan's interest rate is sometimes a tough decision. While we do our best to offer guidance on market changes, and where the markets may be heading, many forces play on mortgage rates everyday. What may have looked like great advice today, may seem like terrible advice tomorrow and visa versa. The lock decision is always up to you.

    Once that decision is made, our lock desk policies are as follows:

    HOW TO LOCK

    Call your Loan Officer. Verbal communications with your Loan Officer is always best.

    Text, E-Mail, and voicemail lock requests, while accepted, may not always be received in a timely manner, and therefore add risk that the market may change between your rate quote and lock confirmation.

    Once we receive your request to lock, every effort will be made to execute the lock immediately.

    A text message, e-mail message, or voicemail message sent by you requesting a rate lock IS NOT A GUARANTEE of the rate until the lock request has been seen, submitted, executed, and confirmed by Cambria Mortgage or the investor if a brokered loan.

    A phone call to your Loan Officer during lock desk hours, who can request the lock while you on the phone, is the best, and preferred method to ensure your lock request.

    LOCK CONFIRMATION

    Once a lock request has been submitted by your Loan Officer, it may be anywhere from a few minutes to a few hours to see an actual confirmation, meaning the lock is accepted and confirmed.

    Due to the nature of how mortgage rates work, a request to lock by a client is not any guarantee of the quoted rate until the actual lock confirmation is given by the Cambria Mortgage lock desk, or in the case of brokered loan, until we receive lock confirmation from the investor.

    The vast majority of the time, a lock request is executed and confirmed with no issues. The mortgage rate market is constantly changing all day, everyday. While most days the rate quoted in the morning is valid all day, we can sometimes see multiple rate changes in a single day. We can never guarantee the markets won't move between the time we quote you, a lock request is received, and the actual lock confirmation. 

    If the requested lock is not able to be executed for any reason, we will tell you as soon as possible. Unfortunately, there is no way to go back in time to lock a rate that is no longer available.

    LOCK DESK HOURS

    Cambria Mortgage lock desk is open 9:00 am - 6:00 pm CST Monday through Friday, excluding federal holidays for all in house loans.

    Loans where we operate as a broker may have different hours.

    Daily interest rates are generally made available no later than 9:00 AM CST, but this is not guaranteed.