realestate
Real Estate

What is a Loan Origination Fee?

Thu Mar 19, 2009 11:04 am
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The Loan Origination Fee is charged by the lender/broker essentially as an administrative fee. The fee is typically one half of one percent, to as much as two percent of the loan amount (depending on whether the loan is "A" paper or sub-prime).

The Loan Origination Fee will usually go towards any commissions and paper processing costs the lender incurs.

This fee is paid to the Broker handling the loan paperwork and the Broker is additionally responsible for placing the loan with a lender.

Buyer's should seek guidance from their real estate attorney when working with a mortgage broker.



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