When individuals apply for a home loan, they often encounter an application fee. This fee typically covers the costs of processing the loan application. However, under certain conditions, borrowers can receive a refund on their home loan application fees.
At Mortgage Street, the Super Prime product charges a $600 application fee. This fee is refunded one month after settlement. If a borrower’s loan is approved and they settle on the property, they will receive the $600 refund within a month.
To qualify for a refund on home loan application fees, borrowers must have their loan application approved by Mortgage Street. They must also complete the settlement process. The refund will only be granted if there are no changes to the loan amount or type after approval.
Not all lenders offer refunds on application fees. Borrowers should check with their lenders to understand the terms and conditions of their loan product. Being well-informed helps potential homeowners avoid unexpected costs and make sound financial decisions.
For those considering a home loan, Mortgage Street’s Super Prime product is worth exploring. It offers a refund on home loan application fees one month after settlement. This product also provides competitive rates and flexible terms. If borrowers have questions about this product or other loan options, they should reach out to one of Mortgage Street’s accredited mortgage brokers. These professionals can guide them through the process and help them make the best choices for their financial future.