17 Feb 2022

Is It Cheaper to Live in a Tiny House?

Loan Application Fees

A homebuyer who wants to finance their home purchase will face several fees attached to the mortgage. Among them are a few loan application fees. These fees cover the administrative work that goes into opening a new docket for the homebuyer. A home loan application takes time to fill out. Moreover, it takes four weeks to three months to process. Some homebuyers drop out in the middle of an application. Thus, the lender must cover the work that its loan specialists completed.

Mortgage House understands that a mortgage application is an arduous process. Plus, the fees tighten the homeowner’s budget even further. Once the home buyer pays the fees, the lender does not refund them. Instead, lenders can waive them.

Individuals with excellent credit scores can qualify for the waiver. First-time homebuyers can apply for a grant that helps defray the upfront fees. 

In addition, Mortgage House offers competitive home loan interest rates that help defray the upfront fees in the long run. By receiving a lower interest rate, the homebuyer saves money monthly. Over time, this equals savings that pay for the fees and more. Our loan specialists have the tools to find the best mortgage product for most financial circumstances. 

It’s possible to waive the application waives or work them into the total home loan amount. Nonetheless, a solution exists.

Loan Application Fees Conclusion

To find out if you qualify for a waiver of your loan application fees, speak with our Mortgage House loan specialists. Our team remains ready to help you accomplish your financial goals.

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