Interest rate lock periods are certain periods of time where your interest rate remains locked in. You have to complete your loan within this amount of time. You can choose what lock period you want when you are locking in your interest rate. The standard lock period is 30 days. We also offer 15 day, 45 day, 60 day, and 90 day lock option. It is important to note that longer lock periods come with a greater cost than shorter lock periods. In order for us to work with a 15 day lock period, your loan has to already be in an approved status.