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Reload this Page Cancelling Mortgage Commitment (mortgage rates, lender, Canada, bought)
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Old 05-24-2009, 07:20 PM
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Default Cancelling Mortgage Commitment
I am in Canada. I bought a home, possesion date is July 15. Last week I signed a "Mortgage commitment" with a lender through a broker. I have had issues with this broker since, and wish to move to another bank, is it too late?
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Old 05-25-2009, 07:20 AM
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Yes you can cancel it BEFORE it funds.. you will be out any application fee, apprasail fee, and inspection if you had any done.
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Old 05-27-2009, 10:13 PM
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With how mortgage rates shot up today, about a .50% higher, i would suggest you dont cancel. If you go with a new lender know, you will get current mortgage rates.
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