I submitted an application for an FHA Mortgage and going through the process now. I had a Home Inspection done and there are major fire/safety/hazard issues and I was thinking of walking away from the deal if the Seller doesn't agree to fix these problems. I let the Lender know this and he told me I would lose a $500.00 non refundable fee along with my Home Inspection fee (which I know about the home inspection) . I never heard of losing additional fees/monies.
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Best Expert Answer
It may depend on what the $500 fee is for--what does the lender say about the purpose of the fee?
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Could it be an appraisal fee already done or an application fee? I would be happy to consult further: www.phmc.com/coreyvandnberg
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