Refund Guidelines When Actual Mortgage Costs Exceed The Loan Estimate

Final mortgage costs may differ from the loan estimate, but the differences are defined by legal tolerances for some cost categories.

For items limited to 10% change tolerance — recording-services charges and non-shoppable 3rd-party services — amounts paid over the Loan Estimate for these categories must be refunded.

For all other items, including the services which a borrower is allowed to shop, differences between payment and closing, and Loan Estimate, are not refundable.

The lender must arrange refunds within 60 calendar days (NOT business days) of loan consummation.

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