Forgotten Your Password?

Need to Register?

Question Icon

Do you need to send a new GFE if you are extending the rate lock period?

by sandra.feinman653 from Aliso Viejo, California. Sep 8th 2014 Reply

Joe Metzler (JoeMetzler)
#2 ranked lender in Minnesota - 3,717 contributions

The rules require that lenders redisclose to you if certain changes are made to the loan, with a minimum wait period after the new disclosure, and before closing. Generally speaking, if everything basically stays the same, and you are just extending the date, that is not a qualified CIC (change in circumstances) that requires redisclosure. On the other hand, if the rate changes, or fees are added (like a lock extension fee), than redisclosure IS required. Lending in MN, WI, and SD.

Sep 9th 2014
Regina Rutnam (
#1009 ranked lender in California - 2 contributions

not if there are no change in the rate or terms of the loan- if everything remains the same as the initial GFE you do not need to redisclose, if anything changes than yes you do need to redisclose.

Sep 8th 2014
William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,360 contributions

If nothing has changed, then no new GFE is required.. if there are extension fees that are passed onto you, then yes.. they must re disclose and the lender has a minimum waiting period that must pass before you can close. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Sep 9th 2014
Subscribe to our news feed.