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  1. Home
  2. Buy a House
  3. RateShield™ Approval
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The Benefits of RateShield™ Approval

Lock your interest rate for up to 90 days.

How RateShield Approval|| Gives You Peace of Mind

Lock Your Interest Rate

Lock your rate for up to 90 days and protect your monthly payment from going up while you search for the right home. If rates go up, your rate stays the same. If rates go down, your rate drops. Either way, you win!

Make Your Strongest Offer

A RateShield Approval Letter can give you the strength of a cash buyer, making your offer more attractive to sellers in today's competitive market. That's because we verify your credit, income and asset information up front.

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Introducing Our Power Buying Process™

Today’s housing market is competitive. When you find the home you want to buy, you need to be ready to make an offer quickly. On top of that, you may need to beat out other offers. The stronger your approval, the better your chances are.

Our Power Buying Process has three levels of approval to help you make the strongest offer:

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Prequalified Approval

You answer a few simple questions, and we'll check your credit. Based on that information, we'll give you and your real estate agent a Prequalified Approval Letter showing how much you can borrow so you know what you can afford.

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Verified Approval§

Get the strength of a cash buyer with a Verified Approval Letter. After checking your credit history, a Home Loan Expert will verify your income and assets, then grant you a Verified Approval Letter within 24 hours of receiving all required documentation. By allowing us to verify more of your information, you can be even more confident you'll close on a new home. If you don’t close based on our review, we'll pay you $1,000.

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RateShield Approval

Get RateShield Approval after speaking with a Home Loan Expert and locking your interest rate for up to 90 days. Then, you can focus on finding the right home without worrying about your monthly payment going up. If rates go up, your rate stays the same. If rates go down, your rate drops. Either way, you win!

RateShield Approval is available for 30-year fixed-rate conventional, FHA or VA loans. A Home Loan Expert will help you find the best option for you.

Home Buyer's Guide

Buying a home doesn't have to be confusing.

Read our Home Buyer's Guide.

|| RateShield Approval locks your initial interest rate for up to 90 days on 30-year conventional, FHA and VA fixed-rate purchase loan products. Your exact interest rate will depend on the date you lock your rate. Once you submit your signed purchase agreement, we’ll compare your rate to our published rates for that date and re-lock your interest rate at the lower of the two rates for an additional 40 to 60 days. Quicken Loans reserves the right to cancel this offer at any time. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Quicken Loans. This is not a commitment to lend. Additional conditions or exclusions may apply.

§ Participation in the Verified Approval program is based on an underwriter's comprehensive analysis of your credit, income, employment status, debt, property, insurance, appraisal and a satisfactory title report/search. If new information materially changes the underwriting decision resulting in a denial of your credit request, if the loan fails to close for a reason outside of Quicken Loans' control, or if you no longer want to proceed with the loan, your participation in the program will be discontinued. If your eligibility in the program does not change and your mortgage loan does not close, you will receive $1,000. This offer does not apply to new purchase loans submitted to Quicken Loans through a mortgage broker. Additional conditions or exclusions may apply. Verified Approval within 24 hours of receipt of all requested documentation.

**According to interest rates published on September 20, 2018, on