Does a lender charge a renewal fee?

Author: Sleep Easy Financial |

Sometimes a lender will attempt to charge a renewal fee or tempt you to renew without a fee if you sign within a certain 'time offer' at their posted rates. This is very often the case with the major banks. Please keep it mind that by using a licensed mortgage professional, it is very rare for you to ever pay any renewal fees. For conventional residential mortgages, there will not be a renewal fee because the licensed mortgage professional will shop the market for you and find a lender that not only does not charge a renewal fee but is also ready to beat your current lender's mortgage renewal rate!


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