Bank Loan Cancellation Letter [Free Samples]

Learn how to write a letter canceling a bank loan. For your loan cancellation letter, use our sample bank loan cancellation letters as a template.

Sample 1 - Bank Loan Cancellation Letter

Your Name
Your Address
City, State, Zip Code

DATE

Loan Officer’s Name
Bank’s Name
Bank’s Address
City, State, Zip Code

RE: Requesting cancellation of loan application number [NUMBER]

Dear [Loan Officer’s Name],

This letter is a formal request to cancel the loan application I submitted on [DATE] to [Bank’s Name]. On that date, I also provided the documentation you requested for loan approval.

When I called you on [DATE], I was told that I would forfeit my application fee and that there would be no cancellation cost. Despite your assurances that I will be notified of acceptance or rejection within two weeks after filing the application, I have yet to get any notification.

I made other loan applications to other lending institutions because I didn’t receive notice throughout the time you indicated. I’ve subsequently been approved for the loan I’m looking for, and I’d like to rescind the application I submitted to you.

I have completed and enclosed the paperwork you provided me with in order to request the cancellation of my loan application, and I request written notification that my loan application has been terminated. I also ask that you promptly return all of the paperwork I sent with my application so that I can submit them to the new lender.

Please contact me at [555-123-4567] or at [name@email.com] to tell me when I will receive my documents or give me a time when I can collect them from your office.

Thank you for your quick attention to this matter.

Sincerely,

Your Signature
Your Printed Name
List of enclosures: Cancellation Forms

Sample 2 - Bank Loan Cancellation Letter

Your Name
Your Address
City, State, Zip Code

DATE

Loan Officer’s Name
Bank’s Name
Bank’s Address 
City, State, Zip Code

RE: Cancellation of my mortgage number [NUMBER]

Dear [Loan Officer’s Name]:

This letter is in response to our phone call on [DATE], during which I informed you that I wished to terminate my mortgage and provided you with a proper written notification. On [DATE], I applied for the loan and completed all of the necessary paperwork for approval and closure.

However, I’ve found a lender who will offer me a lower interest rate on the same amount of money that I’ll need for my mortgage. I’m informing you inside the 72-hour time period for closing, so I have the right to cancel.

Please cancel my mortgage application and return all of my documentation to me as soon as possible. I’ll be pleased to come to the bank and pick up the paperwork as soon as you let me know they’re ready. The credit check and appraisal expenses, I think, are refundable, but the application processing charge and rate lock-in fee may not.

If you notify me when I receive the paperwork, I will pay any cancellation fees. I’d like to request an official Mortgage Release document. If you have any questions, please contact me at [Phone Number] or [Email Address]. Please let me know when I can pick up my documents on or before [DATE].

Sincerely,

Your Signature
Your Printed Name