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Switching lenders mid-process
On the map
You can switch lenders before closing, but it usually means a new application, new disclosures and sometimes a new appraisal, which can delay closing. Fees already paid, like an appraisal fee, are usually not refunded. Weigh the savings against the time and contract deadlines.
Last reviewed against the primary sources listed below.
Before switching
- Check contract deadlines.
- Ask if the appraisal can transfer.
- Get the new Loan Estimate first.
Common questions about where to apply
Can I change lenders after I lock?
Yes, but the lock does not transfer and fees may be lost.
Will switching lenders delay closing?
Often, because the new lender starts over.