I went through a mortgage broker and i was pre-approved, i just found a property that im interested in so yesterday i signed the mortgage loan disclosures is it too late to back out? I just realized when i saw the amount id be paying monthly is just something i wont be able to afford. I havent done the appraisal on the house and im still waiting on the inspection report.
My answer is for the UK – I have a suspicion that you are in the US (despite this being in the UK and Ireland section) in which case your system is probably different.
When you formally apply for a mortgage loan you usually pay an application fee. There will also be a valuation fee for the property you are buying and some legal fees.
Any of these fees will be non-refundable once the relevant work has been done.
I’m not sure what you mean by the disclosures – I assume this is part of the initial application. If your application has gone through you won’t be able to get the fee back, but you should be able to cancel the application and avoid further costs.