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To lock an interest rate, contact your lender or ODVA at 1-888-673-8387
When ODVA reserves funds, an interest rate will be committed to (locked) and will be effective for a period of 60 days. The loan must be closed before the end of 60 days or the committed interest rate will expire. If the reservation is reissued, it will bear an interest rate at the higher of the expired/cancelled rate or the then-current interest rate at the time of reissue. If a veteran withdraws an application and subsequently re-applies for a loan on the same security, this "higher of" rule will apply for a period of 120 days from the date of withdrawal.
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