Question: |
Will I be charged for a mortgage interest rate lock-in? |
Category: |
Business & Finance > Renting & Real Estate |
Keywords: |
cost, charge, mortgage, loan, interest rate, lock in, lock-in |
Type: |
other |
Rating: (0 ratings) Views: 67 Discussions: 0 In Watch Lists: 1 |
|
|
Answer:
|
Lenders may charge you a fee for locking in the rate of interest and number of points for your mortgage. Some lenders may charge you a fee up-front, and may not refund it if you withdraw your application, if your credit is denied, or if you do not close the loan. Others might charge the fee at settlement. The fee might be a flat fee, a percentage of the mortgage amount, or a fraction of a percentage point added to the rate you lock in. The amount of the fee and how it is charged will vary among lenders and may depend on the length of the lock-in period.
Source: Federal Reserve Board
|
Read more questions from WISTEME through
|
|
Add to Groups Add to Watch Lists Share Question
|
|
Will I be charged for a mortgage interest rate lock-in?
|
|
|
|
More Readings :
|
|
|
Question ID: ${question.id} Current Version: ${question.version} |
{for qh in questionHistory} {if qh.status == 'r'} {else} {/if} {/for}
ID |
Topics |
Replies |
Latest Post (ET) |
{if dlist!=null} {for d in dlist} {/for}
${parseInt(d_index)+1} |
${d.sentence} |
${d.replyNum} |
${d.lastestDate} |
|
{for k in d.discussionPost} {var x=0;} {eval} while(k.id>0){ {x=x+30;} k.id--; } {/eval} {/for}
|
${k.content}
by ${k.createdByNickname} ${k.createdDate} [reply]
|
|
|
|
{else}
{/if}
|