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 senseTrade 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.
Are ten-year fixed-rate mortgages (FRM) available anywhere?Sure! Virtually all lenders who sell product to Fannie Mae or Freddie Mac will be able to offer you mortgage with a 10-year term. However, interest rates are usually the same as the lender's 15-year offerings.