Mortgage Glossary
Application Fee
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
An application fee is an upfront charge some lenders collect to begin processing a mortgage application.
What Application Fee means
It may cover the credit pull or early processing and is disclosed on the Loan Estimate. Many lenders, including brokers, charge little or no application fee.
Florida example
A Florida borrower comparing lenders notes one charges a $500 application fee while another charges none. Folding such fees into the total cost comparison reveals the true cheaper option.
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