Posted on: 29th Aug, 2010 07:55 pm
Is there a lock in application fee for SONYMA
Hi pmjon,
As far as I know, a fee equal to 1% of the requested loan amount is paid to the lender by the borrower within 14 days of loan reservation to hold a specific interest rate (lock in fee) for a specific period of time. In SONYMA programs, this fee is non-refundable unless the mortgage application is denied by the lender.
Thanks
As far as I know, a fee equal to 1% of the requested loan amount is paid to the lender by the borrower within 14 days of loan reservation to hold a specific interest rate (lock in fee) for a specific period of time. In SONYMA programs, this fee is non-refundable unless the mortgage application is denied by the lender.
Thanks