A Home Equity Loan is a type of Second Mortgage. They are simply two different names for a loan that is taken out against your home to get cash for home improvements, pay off existing debt or to use for another expense.

The rate lock period on a mortgage loan application refers to the duration during which the borrower's interest rate is guaranteed to remain unchanged. This means that once the rate is locked, regardless of any fluctuations in market rates, the borrower's interest rate will stay the same throughout the application process. Borrowers can lock the loan rate at any point in the process, with the lock period being determined at the time of locking. This gives borrowers with the security of knowing their interest rate won't change, offering financial predictability during the mortgage process. If you have additional questions, please contact a Mortgage Loan Officer or if you're ready to begin your homebuying journey,

When you select your mortgage within Digital Banking, you can see loan history and account details, including:

• View/print/export loan history
• View escrow account detail
• View interest paid year to date (YTD) and previous YTD
• View original terms and dates
• View the current rate and maturity.

Interest rates fluctuate daily, so the rates available when you apply for a mortgage loan may be different than the rates available when you decide to lock your interest rate. By locking the rate, you protect your selected rate for a period of time and it will not be affected by market fluctuation.

Due to the complexity and variety of mortgage products and each member's individual circumstances, we are unable to provide information online. Please contact us to discuss your particular situation.