Sentences with phrase «cover origination points»
These cover origination points, broker fees, commitment fees, document preparation, processing, tax service and underwriting.
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Therefore, be prepared that your loan proceeds may be reduced by a couple percentage points to cover the loan origination fees.
Origination points are what the lender charges to cover the administrative costs of processing the loan.
Points are commonly paid on both fixed rate and adjustable rate mortgages to cover loan origination and other types of costs supplied by the lender.
Some lenders charge «origination points» to cover expenses of making a loan.
Origination Points This is charged by the lender to cover the costs of making the loan.
The basic definition of fees and points covers what is often traditionally thought of in the industry as charges relating to originating the mortgage loan, such as origination and underwriting charges.
We offer eligible first - time homebuyers up to $ 12,000 toward their home purchase to cover such expenses as down payments, loan origination or discount points, and other closing costs, plus paid time off for closing.