01
Locked terms
Written lock confirmation
Record rate, points or credits, loan amount, product and the expiration date and time.
Loan terms · field guide
Match the rate-lock clock to the closing clock
Record the lock expiration, extension terms and remaining closing dependencies before treating a quoted rate as secured.
Sources checked November 1, 2026 · Educational document review · No loan offer
Build the evidence before choosing an input
02
Closing dependencies
Dated milestone list
Track appraisal, title, insurance and underwriting conditions with responsible parties and current status.
03
Delay treatment
Provider’s extension and re-lock policy
Ask about cost, eligibility and approval; a possible extension is not automatic.
Fictional scheduling check
An authored teaching record; amounts and situations are fictional, not market statistics or actual borrower files.
- A hypothetical lock expires November 30. Proposed funding moves to December 2.
- The new date is two calendar days after expiration; this is a date comparison, not a lender grace period.
- The file needs a written extension or revised terms before assuming the original rate applies.
Do not price the transaction as locked merely because a lock once existed.
Turn the record into a usable next step
- 1
Compare the signed confirmation with the latest proposed loan amount and terms. CFPB notes that application changes can affect a lock even before expiration.
- 2
Ask whether the controlling event is signing, funding or another defined milestone. Record the provider’s answer rather than inferring it from a calendar invitation.
- 3
If a delay appears, request the applicable extension or re-lock terms and update the comparison only after they are confirmed. Keep the old version to show what changed.
What this evidence does not settle
CFPB describes common lock questions, not a universal lock duration or extension price. No rate, fee, lock or closing date here represents a live DSCR offer.
Sources and scope
- CFPB — What is a rate lock?
Explains expiration, possible extension costs and application changes.
Read November 1, 2026. This is the check date, not a new effective date for the source.
- CFPB — Loan Estimate explainer
Definitions and document fields for checking costs, taxes, insurance and loan terms.
Read November 1, 2026. This is the check date, not a new effective date for the source.
The review steps are DSCRDealCheck’s editorial checklist. Agency guides and consumer mortgage explainers define documents and concepts; they do not establish a DSCR provider’s program rules or guarantee that consumer disclosure requirements apply to business-purpose financing. See the transaction-scope distinction in Regulation Z. Confirm the actual file with the provider and the relevant qualified professional.
Continue the loan terms review
Choose the unresolved document in your file. Each guide addresses a different input or obligation.