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Hamilton National Mortgage


Posted : 17 Apr ,2014 by    Jon Harris



I applied to refinance my mortgage. I was charged a $500 rate lock deposit and a $409 appraisal fee. I was told that the rate deposit would be refunded if the loan did not go thru but the appraisal fee was non refundable if I did not go thru with the loan. After the appraisal was done, I was told that the loan would not be underwritten because one of my bathrooms was not finished. ( I had pulled out the toilet, basin, shower enclosure and carpet because of previous owner's uncleanliness). They said I needed to remodel it to get the loan. I told them I was in no rush to reinstall new fixtures since I had 2 other bathrooms to use. I also cannot afford to pay someone to do this work; I would eventually get it done myself in my spare time. They denied my loan and have refused to refund the appraisal fee. As of this writing, I have yet to get my rate lock fee refunded too. If I had been told that I could not have any unfinished rooms in my house, I would have never applied for the loan nor would I have paid for an appraisal. I was never told about this, nor was there any written mention of it in any of the loan documents I signed. I spoke to the loan officer about this and his manager, but they both told me that I would not get a refund of the appraisal. I believe that I should get my rate lock deposit back since they said I would and a refund of the appraisal since they failed to disclose pertinent information on the conditions of the loan. A total refund of $909. ($500 rate lock and $409 appraisal fee)

Hamilton National Mortgage Company
1265 Drummers Lane
Suite 107, Wayne, PA 19087
Phone: (800) 220-7334
Fax: (484) 588-0451


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