The appraisal gets ordered after your initial disclosures are acknowledged, then takes anywhere from a couple of days to a week. The rate lock is separate and can happen at any point. A lender cannot charge you for an appraisal until the initial disclosures go out and are acknowledged, so the order does not happen the instant you are under contract. Some lenders front the cost and get reimbursed at closing to save a day or two, but the disclosure step comes first either way. Once ordered, turnaround depends on your area: as quick as a couple of days where appraisers are plentiful, five to seven days in less dense markets. Keep two milestones straight. The appraisal clears the property's value. Underwriting clears the loan and produces your conditional approval. Those are separate, and hitting one before the other is normal. Locking your rate waits on neither. As soon as the lender knows your credit and the specific property you are buying, the rate can be locked. If a lender tells you the appraisal or the approval has to happen before you are allowed to lock, question that, because a lock does not work that way.