Dual Apper Law and Legal Definition

A “dual apper” is a potential mortgage borrower who submits two mortgage applications simultaneously with different lenders, who are typically mortgage brokers, without the two lenders’ knowledge. Lenders must charge enough to cover all their costs, including aborted loan applications. Therefore, "dual appers" raise the cost of borrowing for all borrowers. Home purchasers sometimes submit more than one loan application as a way of protecting themselves against the hazards inherent in committing to one loan provider before the price is locked. Double-apping strengthens the bargaining position in negotiating the lock price.