If you're just jumping into the game of home purchasing, you are likely considering all of your loan options and may even have heard the term mortgage lock. For those who don't like to gamble, a mortgage rate lock can offer a bit of reassurance, but there are also some downsides to this type of protection. Before signing off on this, here are the details on rate locks so you can make an informed decision.

If you're just jumping into the game of home purchasing, you are likely considering all of your loan options and may even have heard the term mortgage lock. For those who don't like to gamble, a mortgage rate lock can offer a bit of reassurance, but there are also some downsides to this type of protection. Before signing off on this, here are the details on rate locks so you can make an informed decision.