Mortgage refinance - locked and want to change my mind. Is it possible?

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big bang
Posts: 102
Joined: Mon Jul 25, 2016 8:33 pm

Mortgage refinance - locked and want to change my mind. Is it possible?

Post by big bang »

Hello friends,
I was shopping around for a mortgage refinancing in the last few days.
Earlier today I finally locked with Loan Depot and paid them for running our credit report.
This afternoon AimLoan came back with a better offer.
Can I change my mind?
What are my options?
I appreciate your input.
(1) save a lot, (2) select an asset allocation containing both stock and bond asset classes, (3) buy low cost, widely diversified funds, (4) allocate funds tax-efficiently, and (5) stay the course.
mortfree
Posts: 2432
Joined: Mon Sep 12, 2016 7:06 pm

Re: Mortgage refinance - locked and want to change my mind. Is it possible?

Post by mortfree »

See if Loan Depot will beat the other offer
mighty72
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Joined: Fri May 04, 2018 11:22 pm
Location: Somewhere in the West

Re: Mortgage refinance - locked and want to change my mind. Is it possible?

Post by mighty72 »

As per viewtopic.php?p=5396224#p5396224, you can change your mind up to 3 says after closing
bikesandbeers
Posts: 237
Joined: Thu Jun 13, 2019 2:08 am

Re: Mortgage refinance - locked and want to change my mind. Is it possible?

Post by bikesandbeers »

I cross-shopped both Loan Depot and Aimloan. You can cancel with LoanDepot and the only thing you will lose is the credit report cost. They will call you and try to win your business, but I found them a bit pushy.

Aimloan was slow, but we completed fine.
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