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Rate lock on mortgage

Started by JacksonHole
over 12 years ago
Posts: 113
Member since: Apr 2011
Discussion about
Do you have to pay fees to lock in your rate on a mortgage? If deal falls apart, is there still a charge or are the fees refundable?
Response by FreebirdNYC
over 12 years ago
Posts: 337
Member since: Jun 2007

Depends on the lender, but I saw many lenders do 60 day locks for free. In some cases there is an application fee that is nonrefundable, but the better banks waive that as well.

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