re: Current Mortgage Rates

quote:

---

It will make sense and you can brag about having a 2.875 Ask them to remove a processing fee or whatever admin fee they might have to offset their failure to hit the lock Unless you were the cause of that

---

It doesn’t hurt to ask. The cause was due to the bank telling the builder they would accept a temporary occupancy certificate (final grading and sod won’t be done until next week and that’s a requirement for occupancy in the county). We don’t move there until the end of the month. Last week, the bank let the builder know they would no longer accept the temporary occupancy certificate. They moved the goal posts.

The builder tried to get the bank to split the costs with them, but they wouldn’t. It makes financial sense to just pay the extension fee, especially since my builder will pay half. I just wanted a sanity check on whether or not I should be able to get the prevailing rate if the lock expired or if the bank typically passes their costs on to the buyer.

Thanks for the inputs.