Refundable Mortgage Lock In Fee

by Melissa C.
(New London, PA USA)

Ask Kate about Refundable Mortgage Lock In Fee: Hi Kate, Is a mortgage company required to return a paid lock in fee if they ultimately decide that your house cannot be financed, by their standards?


Melissa continues... Since they are the ones that canceled the mortgage (due to a spot of mold being discovered), do I have a shot at recovering my funds? Thank you.

Kate Answers: Refundable Mortgage Lock In Fee


Ask Kate at Get-Your-Best-Mortgage-Rate.com
Dear Melissa,

I wish I had an exact answer but mortgage companies have varying policies regarding refunds. However one would certainly hope they would refund the lock in fee if they cancel your loan!

The only way to know for sure is to get a signed mortgage rate lock disclosure when you lock in your interest rate. There is no reason a homeowner or home buyer should settle for anything less. Don't miss the scoop on this at Nitty Gritty Mortgage Interest Rate Lock.

And speaking of fees and disclosures, here is how to avoid hidden fees when you lock mortgage rates over the phone.

Melissa, one more thing. I'd like to hear back from you. Let me know if this page was helpful to you. Comment here on Refundable Mortgage Lock In Fee.

Or Ask Kate another question here.

Best wishes,

Ask Kate





Return to the home page of Get Your Best Mortgage Rate from Refundable Mortgage Lock In Fee

Tell Your Friends

I want to reach as many home buyers and homeowners as possible with my websites. But I need your assistance.

So please help me spread the word about Refundable Mortgage Lock In Fees at Get Your Best Mortgage Rate with your friends. Just use these easy buttons.


Click here to add a comment.

You can also ask Kate about your mortgage at Ask Kate About Buying a House.

Recent Articles

  1. Kate's Mortgage Rate Report August 11: Rates Bouncing Like a Ping Pong Ball

    Aug 11, 16 10:49 AM

    Kate's mortgage rate report for the week ending August 11, 2016: Rates Bouncing Like a Ping Pong Ball
    Mortgage interest rates have been bouncing like a ping pong ball: After last Friday's strong job report began pushing up mortgage rates, the market is now hinting at a reversal, with the 30-year hover…

    Read more

  2. Ask Kate how to avoid unauthorized mortgage rate extension fees

    Aug 11, 16 10:18 AM

    Ask Kate how to avoid unauthorized mortgage rate extension fees
    Ask Kate how to avoid unauthorized mortgage rate extension fees:

    After locking in her rate, the bank sent a Texan homeowner, Laura, notification of several thousand in fees that she must pay in order…

    Read more