The lender's fee charged a borrower to prepare documents, make credit checks, inspect and sometimes appraise a property. Usually stated as a percentage of the face value of the loan.
This fee is usually 1% of the loan amount and pays the lender for processing and originating your loan. As an example, the origination fee on a $100,000 mortgage loan is $1,000.
A lender may charge an origination fee that is additional to any mortgage points you pay. Origination fees are the lender's charge for funding your mortgage with a mortgage broker. The process of funding your loan is called origination.
A fee charged by lenders, in addition to interest, for services in connection with granting of a loan. Usually a percentage of the loan amount.
Fees charged by a lender to prepare loan documents, make credit checks, inspect, and sometimes appraise a property. The fees are usually computed as a percentage of the face value of the mortgage.
Your lender will charge a fee to cover the administrative cost of processing your loan. This fee is usually a small percentage of the loan amount.
Major expense of making a loan is upfront for the lender so the lender pulls more money out of the transaction at the beginning to get immediate earnings on loans. There are 2 kinds of loan origination fees. One is fixed dollar or percentage of the loan amount, sometimes charged instead of application or appraisal fees, but more often a separate charge. Another origination fee is called a loan discount fee, or points.
A fee which a lender charges upon issuance of a loan; a standard origination fee is 3% on Stafford loans.
A fee assessed by the lender for processing the loan. Most lenders' charges are based upon the amount of the loan, and one point equals 1 percent of the loan amount. These fees are normally paid by the borrower at closing. In some cases, however, they may be paid by the seller or shared by both parties. Also, the lender may allow the charges to be deducted from the mortgage amount.