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Gain a Competitive Edge in Home Buying and Protect Yourself from Interest Hikes with Lock & Shop

Lock in your mortgage rate without worrying about rising interest rates while you shop for your home.

What You Get with Lock & Shop:

  • Rate Lock: You can lock in a mortgage rate before finding a home, protecting yourself from rising rates.
  • Commitment Letter: You’ll get a formal letter indicating your pre-approval status, making you more attractive to sellers.
  • 45-Day Home Search: After locking in your rate, you’ll have an extensive 45-day window to find a home and an additional 25 days to close the loan.
  • Rate Flexibility: We allow a one-time rate adjustment if interest rates drop after you’re locked in.
  • Transferable Rate Lock: Your rate lock can be transferred to another property if the first home falls through.
  • Early Verification of Income and Assets: You can make the buying process easier and faster with your Lock & Shop pre-approval status.
  • Multiple Uses: Members can use the program up to three times in a 12-month period.


The Lock & Shop Program allows you to lock in your mortgage rate before you find a home. This protects you from rising interest rates during your home search and gives you a clear idea of your budget upfront.

Once you enroll in the Lock & Shop Program, you can lock in your rate for 45 days. This gives you ample time to find and choose the right home without worrying about fluctuating interest rates.

Your rate lock expires if you don’t enter into a contract within 45 days. However, you can discuss your options with a mortgage officer, including re-applying for the program if necessary.

Yes, if interest rates decrease after you've locked in your rate, the Lock & Shop Program offers a one-time option to adjust to the lower rate, ensuring you always get the best deal available.

Member Advantage Mortgage LLC (MAM) is a subsidiary of CUSO Development Company (CDC), which is owned and operated by credit unions for the benefit of credit unions and their members. CommonWealth One FCU has an affiliated business arrangement with MAM and is an indirect, minority owner of MAM. Loans originated for CommonWealth One FCU members benefit both MAM and CommonWealth One FCU.

This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will qualify. Member Advantage Mortgage, LLC is an Equal Housing Lender. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

Commonwealth One Federal Credit Union NMLS #403416, Member Advantage Mortgage, LLC NMLS #1557. Alabama Consumer Credit License # 22717. Arkansas Combination Mortgage Banker-Broker-Servicer License # 104160. Colorado, Regulated by the Division of Real Estate, Mortgage Company Registration NMLS ID # 1557; check the license status of your mortgage loan originator at Connecticut Mortgage Lender License # ML-1557. District of Columbia Mortgage Lender License # MLB1557. Delaware Lender License # 011515. Florida Mortgage Lender License # MLD781. Georgia Residential Mortgage Licensee, License # 36659. Louisiana Residential Mortgage Lending License NMLS ID # 1557. Massachusetts Mortgage Lender License # ML1557.  Maryland Mortgage Lender License # 06-19371. Michigan 1st Mortgage Broker/Lender/Servicer Registrant # FR020440. Licensed by the North Carolina Commissioner of Banks, Mortgage Lender License #167098.  Licensed by the New Hampshire Banking Department. New Hampshire Mortgage Banker License # 14242-MB. Licensed by the New Jersey Department of Banking and Insurance. New Jersey Residential Mortgage Lender License NMLS ID # 1557. Licensed by Pennsylvania Department of Banking. Pennsylvania Mortgage Lender License # 33868.  Rhode Island Licensed Lender, License # 20112778LL. South Carolina Mortgage Lender License #1557. Texas Mortgage Banker Registration NMLS ID # 1557.  Licensed by the Virginia State Corporation Commission, Virginia Lender License # MC-5045, Virginia Broker License #MC-5045. NMLS ID # 1557 (visit for complete licensing information).

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