Can I support out of a refinance if I find a lower rate following?
I have a 45 day lock on a refi and another company told me it's possible to seize a lower rate shortly to the tune of about a half percent. If I already committed to the first refi but haven't closed, can I vertebrae out and only pay the money POC if the rate beside the other company is indeed lower?
Answers:
Depends on the contract you signed. You should contact a real estate attorney.
You are welcome to back out, but may be obligated to definite expenses incurred by the lender, such as title search, escrow fees, property appraisal, and so on.
Yeah but you will pay incurred costs, better to approach the company your working with and share them about the new submit, they should match it.
This happened to me and I be lucky to be working with a sharp person from the ridge, she realized I would leave so she matched but later toook an additioanl 1/4 point.
Good Luck!
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Answers:
Depends on the contract you signed. You should contact a real estate attorney.
You are welcome to back out, but may be obligated to definite expenses incurred by the lender, such as title search, escrow fees, property appraisal, and so on.
Yeah but you will pay incurred costs, better to approach the company your working with and share them about the new submit, they should match it.
This happened to me and I be lucky to be working with a sharp person from the ridge, she realized I would leave so she matched but later toook an additioanl 1/4 point.
Good Luck!
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