If a lender denies a loan after the appraisal was obtained is the appraisal fee refundable in MA?

Hi Megan,The appraisal fee is not refundable. Keeping that in mind, all lenders have different guidelines and something one lender would deny another lender may approve. Message me why you were denied and if we can do a loan for you we will pay for it. Steven CrowellPrimary Residential Mortgage Inc.scrowell@primeres.com603-742-3331NMLS # 58375

Hi Megan. There is usually never a case where an appraisal fee is refundable. You are paying for the valuation report to be used by your lender for lending purposes, but you are also entitled to a copy of this report. This is typically more advantageous when you already own the home that the appraisal is being performed on versus when you are in contract to purchase a home. If you need a referral to someone local, I'd be happy to help as I am located in MA myself.

Under the new rules for mortgage finance, if change your mind and cancel a mortgage loan, then yes.. you would get your money back, not just for the appraisal fee, but any fees you paid, however once you're denied, then the lender has no obligation to refund you any monies you might have paid. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Hi Megan, most lenders and banks make you pay for it upfront for that reason in case value not come in then you as a customer will not walk away so quick as you did pay for it now with that said I can review for you to see if anything can be done to help and or change value as I am a realtor so I have access to MLS and also know a a lot of appraisal companies who can review it and give me info on if it can be changed for the better or not. Let me know Robert Oliveira Province Mortgage 508 802 0935