Do I have to pay a mortgage application fee, if we just signed the contacts and faxed them to the broker.?

Question

We completed our mortgage refinance papers and mailed them to the broker. Another company has offered to beat that rate by a substantial amount and without any hidden fees. Are we obligated to pay the broker/dealer the $750 application fee. We just overnighted the papers and they have not even received them.

Answer 1

Not until the closing.