5 Tips for Accepting Credit Cards to Pay Mortgage Lock Fees
The mortgage lock fee is a one-time fee charged by lenders to cover the interest rate differential between the time you apply for a loan and when your loan closes. It's also known as an "early closure fee" because it's typically charged if you close on your home before the end of your approved term. The amount of this fee depends on several factors, including how long it takes you to get approved and closed on your loan, as well as how much money each lender charges for processing these types of loans.
If you’re wondering whether accepting credit cards for mortgage lock fees will help increase loan volume or not, this blog is for you. Here are five tips for accepting credit cards so that you can increase loan volume without breaking the bank: