Digital Mortgage Terms Scanner

Mortgage Provisions I Check First

Digital mortgage lenders move fast, but hidden terms can cost you tens of thousands over the life of a loan.

High Risk

Rate locks expire (30-60 days typical), and if closing delays occur, you may face higher rates or extension fees of 0.25-0.5% of the loan.

Look for: "Rate lock expires on [date]. Extension fees apply. Rates not guaranteed after expiration."

High Risk

Advertised "lender credits" toward closing costs may be clawed back if you refinance within 3-5 years, or may be offset by higher rates.

Look for: "Lender credit must be repaid if loan is refinanced within [X] months."

High Risk

Some mortgages charge 2-5% penalties for paying off early or refinancing within the first 3-5 years. Common in non-QM and jumbo loans.

Look for: "Prepayment penalty of [X]% applies during the first [Y] years of the loan."

Medium Risk

Lenders can hold 2 months of escrow as a "cushion," tying up thousands of your dollars earning no interest for you.

Look for: "Escrow account will maintain a cushion equal to [X] months of estimated payments."

Medium Risk

Non-refundable appraisal fees ($400-800) charged upfront. If the deal falls through, you lose the money and don't own the appraisal.

Look for: "Appraisal fee is non-refundable. Appraisal remains property of lender."

Medium Risk

Your loan can be sold to a different servicer immediately after closing. Payment portals, contact info, and terms handling all change.

Look for: "We may sell or transfer servicing of your loan without prior consent."

See your estimated monthly payment and total interest paid.

Loan Amount ($)

Interest Rate (%)

Loan Term (years)

$0/month