Checklist: Mortgage Rate Locks Explained
Print this page or keep it open while you talk with lenders. These questions relate to the guides on this site.
- When does my lock expire relative to my closing date?
- What does an extension cost?
- Is there a float-down option?
- What could change my locked price?
- Are all my documents ready before I lock?
Before any application
- Verify the lender and loan officer on NMLS Consumer Access.
- Ask for a Loan Estimate and compare it with at least one other.
- Never send documents or wire funds based only on an email request.