Is my rate locked or not, and how do I verify it?

How do I know if my rate is locked?

You want to confirm whether your mortgage rate is locked in place and protected from market changes. Rate locks typically last 30-60 days and protect the interest rate you were quoted when you applied for the loan.

Your loan application paperwork shows the rate lock details. Look for a rate lock agreement or confirmation letter that states the locked rate, lock period dates, and any conditions. Your Loan Estimate also shows whether the rate can change—Section A lists your interest rate and indicates if the rate is locked. If you see "YES" under "Can this amount increase after closing?" the rate isn't locked.

Contact your lender directly to verify the lock status if the paperwork isn't clear. Ask for the locked rate amount, the expiration date, and what happens if closing gets delayed beyond the lock period. Some lenders charge fees to extend expired locks, while others offer free extensions under certain conditions.

Share your loan application number with the lender and they can pull up your file to confirm the rate lock details and timeline.