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i have a apprsaial being done by a lender and had my credit card on file for payment when does the lender pay them

by smiley_962_659 from , . Mar 31st 2013 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Every Company is different. Some will charge it as soon as you give the authorization, and others not until escrow closes, and still others anything in between. To know for sure, ask them. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Mar 31st 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

You'd have to ask your Loan Officer what their company policy is. For example, we typically charge your credit card the same time the order is made... That would be just a few days after you've signed all the application paperwork. Sometimes on purchases, we collect a card number, but don;t ever charge the card at all and collect at closing with all your other closing costs.

Mar 31st 2013
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Peter Savino (855411LEND)
#99 ranked lender in New Jersey - 332 contributions

Every Lender is diffrent, but I would say most will charge the card once the AMC contacts the appraiser.

Mar 31st 2013
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Cory Ure (coryure)
#46 ranked lender in Utah - 50 contributions

It depends on the appraisal management company (AMC) the lender is working with. Some charge your card immediately and others not until the loan closes. Talk to your loan officer to find-out what the policy is for the AMC they work with.

Mar 31st 2013
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