How Do You Get An Application Fee Waiver?
Homebuyers incur a set of fees throughout the mortgage application process. Up-front, ongoing, and exit fees exist. Keep in mind that these costs cover the administrative work that takes place behind the scenes. A new client and loan application for a lender requires their team to set up a new file. This takes a few hours of work.
Mortgage House employs several proprietary tools that make the application review stage more efficient. Our loan specialists have more time to find solutions per client thanks to our tools. Nonetheless, our loan specialists and other team members receive compensation for their time.
Obtaining an application fee waiver depends on several factors. Applicants who see the process all the way through to a decision become candidates for the waiver. The home buying process is also an opportunity to test your negotiating skills.
For example, you begin by negotiating the final prices of the home you want to purchase. Next, you attempt to negotiate the potential home loan interest rates. While you negotiate the rates, you can also negotiate your costs and fees. Sometimes lenders will waive the up-front fees for applicants who qualify and accept their loan. Others can apply for a no-fee home loan, which Mortgage House offers.
Our loan specialists have several tools at their disposal. They also have leeway to negotiate and waive fees. Every situation differs from the next. Thus, wiggle room does exist.
Application Fee Waiver Conclusion
Mortgage House works with homebuyers who would like to receive an application fee waiver. Contact our loan specialists to discuss the options.