Loan Application Fee
Definition
- A sum charged by a lender for accepting a document in which a prospective borrower details his or her financial situation to qualify for a loan.
Synonyms
commercial mortgage fee, surcharge, loan fees
Related Terms and Acronyms
- Application Fee — Definition,
- What the lender charges to process the document in which a prospective borrower details his or her financial situation to qualify for a loan.
- Late Charge — Definition,
- A fee imposed on a borrower for not paying on time
- Loan — Definition,
- Letting another party use something of value temporarily.
- Loan Application — Definition,
- A document in which a prospective borrower details his or her financial situation to qualify for a loan.
- Origination Fee — Definition,
- The fee a lender charges to process a loan. It usually includes the cost to prepare loan documents, check a borrower's credit history, inspect the property and sometimes conduct an appraisal. CanEquity will in most cases use a lender who doesn't charge this fee or we will cover the cost in full.
