| Posted By |
Message |
MrsPornStar
Partners in crime
Member since 10/05 14656 total posts
Name:
Mama
|
Locking in rates
Do you have to pay an application fee to lock in a rate? If so, how much?
I was just quoted a $395 fee to lock a rate in.
ETS- Sorry, it was an application fee. Is this normal?
Message edited 1/14/2008 11:20:39 AM.
|
Posted 1/14/08 11:03 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
bicosi
life is a carousel
Member since 7/07 14956 total posts
Name:
M
|
Re: Locking in rates
I've never been charged a fee to lock-in.
|
| Posted 1/14/08 11:06 AM |
| |
|
beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
|
Re: Locking in rates
You shouldn't be charged to lock in a rate
|
| Posted 1/14/08 11:13 AM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: Locking in rates
The application fee is one thing and yes you pay for that, but to lock in a rate you don't need to.
|
| Posted 1/14/08 11:15 AM |
| |
|
MrsPornStar
Partners in crime
Member since 10/05 14656 total posts
Name:
Mama
|
Re: Locking in rates
Sorry, it was an application fee. Is this normal?
|
| Posted 1/14/08 11:20 AM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: Locking in rates
Posted by MrsPornStar
Sorry, it was an application fee. Is this normal?
Yes this is normal
|
| Posted 1/14/08 11:36 AM |
| |
|
VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
|
Re: Locking in rates
Yep, an application fee is normal. However, many banks waive them, and I would see if the bank you want to use will waive theirs as well.
Our bank waived our application fee.
|
| Posted 1/14/08 1:05 PM |
| |
|
SweetCin
My green-eyed boy
Member since 5/05 13499 total posts
Name:
Cin
|
Re: Locking in rates
An application fee is normal, although our bank waived ours
|
| Posted 1/14/08 1:40 PM |
| |
|
2Pisces
Life Coach
Member since 2/06 3337 total posts
Name:
Paige
|
Re: Locking in rates
We were not charged an application fee...we were charged a fee to lock in rate.
Good Luck.
|
| Posted 1/14/08 2:24 PM |
| |
|
SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
|
Re: Locking in rates
You shouldn't be charged to lock in a rate. Just tell them you'll go to another bank...they all have low rates right now.
Most banks charge a application fee, but you can even ask that this fee be credited back to you at closing.
|
| Posted 1/14/08 5:32 PM |
| |
|
MrsPornStar
Partners in crime
Member since 10/05 14656 total posts
Name:
Mama
|
Re: Locking in rates
Thanks everyone. I am going to see tomorrow if I can have the application fee waived.
|
| Posted 1/14/08 8:34 PM |
| |
|
kdanik
LIF Infant
Member since 7/07 148 total posts
Name:
|
Re: Locking in rates
An application fee is normal....Do not lock in a rate unless it covers your on or about date for closing....you want to make sure you dont have to pay extension fees!!!!
Good luck!
|
| Posted 1/15/08 8:58 AM |
| |
|
PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
|
Re: Locking in rates
Appl fees are normal and each financial instutition charges diff fees
|
| Posted 1/15/08 9:22 AM |
| |
|
