# Prepare questions about a mortgage rate lock

A quoted mortgage rate and a rate lock are not the same thing. Record whether the rate is locked, for how long, and under which conditions. Ask the lender about delays and changes rather than treating a displayed rate as an unconditional guarantee.

## Start with the written status
The CFPB’s rate-lock explanation notes that lock terms and conditions matter. Copy the status and relevant dates from the written documents. If the status is unclear, ask before comparing the quote with a locked offer from another lender.

## Use a question sheet
| Question | Why to ask |
| --- | --- |
| Is this rate locked? | Establishes the quote basis |
| When does the lock expire? | Connects it to the closing schedule |
| What changes can affect it? | Clarifies conditions |
| What happens if closing is delayed? | Reveals extension process and potential cost |
| Are different lock periods available? | Shows alternatives to discuss |

Keep actual lender answers and document locations beside the questions. Do not turn a general explanation into a statement about your own lock agreement.

## A fictional comparison issue
Offer A has a written lock ending on the planned closing date. Offer B shows a rate but no confirmed lock status. Calling B cheaper without mentioning that difference can mislead. The useful next step is to ask B’s lender to clarify the lock basis and to ask A’s lender about a delay.

```text
Extract rate-lock information from these redacted documents.
Keep status, dates, period, conditions, and costs separate.
Mark missing terms as unknown.
Draft clarification questions for the lender.
Do not assume a rate is locked or predict future rate changes.
Documents: [excerpts with locations]
```

## Keep the comparison current
If the closing schedule or application changes, obtain the lender’s current explanation. Save the updated document as a new version rather than overwriting the earlier quote. A lock discussion involves the actual agreement and transaction; a generic AI answer cannot confirm your terms.

Use the sheet to understand what needs clarification. It should not become a recommendation about when to lock or a forecast of where rates will go.

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SkillStall · 2026-10-02
CFPB: Rate locks: https://www.consumerfinance.gov/ask-cfpb/whats-a-lock-in-or-a-rate-lock-en-143/