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If I roll fees into my mortgage, what happens if it doesn't fund?

Q: If you apply for a mortgage refinance and intend to roll the application fee and other fees into the loan, what happens if it is not approved?

A: It depends upon the lender's policies. It could be that you will be required to pay for certain up-front costs, such as the cost of obtaining a credit report and any appraisal. You'll want to ask your mortgage lender about any obligations you may have when you are filing out your application -- so there are no surprises later.

More help from HSH.com

  • When refinancing at a higher rate makes sense

    Trade your old mortgage for a new, higher-rate version? There are times when it actually makes sense.
  • Should I pay off a mortgage early?

    By making extra principal payments or refinancing your mortgage, you could pay a lot less interest and free yourself from your mortgage ahead of schedule. Here are the pros and cons of retiring your mortgage early.
  • How does a refinance in 2017 affect your taxes?

    After a mortgage refinance, there are some specific "dos" and "don'ts" you need to know prior to filing your income taxes, as well as a few pointers that can help you lower your tax bite.

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