Can You Get a Refund on Home Loan Application Fees?

Learn about the conditions that may qualify you for a refund of a home loan application fee

When applying for a home loan, one of the costs you may encounter is an application fee. This fee is typically charged by the lender to cover the costs of processing your loan application. However, under certain conditions, you may be eligible for a refund of your application fee.

At Mortgage Street, the Super Prime I product has a $600 application fee, which is refunded one month after settlement. This means that if your loan is approved and you settle on the property, you will be reimbursed the $600 application fee within one month of the settlement date.

To qualify for a refund of your application fee, Mortgage Street must approve your loan application and you must settle on the property. In addition, the refund will only be granted if there are no changes to the loan amount or loan type after the application has been approved.

It’s important to note that not all lenders offer application fee refunds. Therefore, it’s important to check with your lender and understand the terms and conditions of the loan product before applying.

If you’re looking to apply for a home loan with Mortgage Street, it’s worth checking out the Super Prime I product, as it offers a refund of the application fee one month after settlement. And if you have any question about this product or other loan options, don’t hesitate to reach out to one Mortgage Street accredited mortgage brokers. They will help you navigate the process and ensure you are making the best decision for your financial future.