Archive | November, 2016

What is a Loan Origination Fee?

Couple looking at loan documentsA loan origination fee pays for the costs a lender incurs in originating the mortgage, such as the paperwork and time it takes to determine if a borrower is qualified for the mortgage. Different lenders may charge different amounts – or nothing at all — for this service. Generally speaking, lenders who charge an origination fee calculate the fee as a percentage of the total value of the loan, usually around one percent, although some lenders may charge a flat fee. Read More

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What Does “As Is” Mean?

When a seller advertises a home “as is,” it does not necessarily mean that there are problems with the home. Rather, by using that term, the seller is merely telling buyers upfront that the seller has no intention of fixing anything that may be wrong with the home. Read More

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