Understanding Mortgage Lender Fees

Understanding Mortgage Lender Fees

As you prepare to buy a home or refinance your current one, you’re probably scouting for a mortgage with the best interest rate. Rates are a key consideration, but they shouldn’t be your only comparative measure. So that you can compare fees from lender to lender, below are the most common fees associated with the closing costs of a mortgage.

Understanding Mortgage Lender Fees

Some lenders charge borrowers so-called “junk fees” such as application or administrative type charges. These aren’t really junk, just additional fixed fees a lender has the latitude to charge although not all do so. Applied less frequently and calculated as a percentage of a total loan amount, some lenders charge an upfront “origination fee” for… Read More