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22 Feb 2022

What Is a Fee Waiver Benefit?

Fee Waiver Benefit

Homebuyers find out quickly that they must pay several upfront fees when they submit a mortgage application. However, it’s possible to find a lender who will waive them. Mortgage House is a non-bank lender that can provide a fee waiver benefit. This means that our team agrees to not charge it.

Some banks only wave application fees if homebuyers enter a loan package. Mortgage House doesn’t place those kinds of requirements on homebuyers. Instead, our loan specialists find creative ways to overcome the fees. One option is to apply for the Mortgage House no-fee loan. It saves homebuyers an average of $300 on a $350,000 home loan. Remember that fees equal a percentage of the total amount borrowed. Therefore, the higher the amount, the higher the total fees.

Another option is to move the fees to the end of the mortgage. We can couple them with the exit fees. Keep in mind that fees cover the administrative work that our loan specialists and underwriting team complete.

If we waive the fees completely, we offer it as a perk to our clients. Nonetheless, a solution exists in most circumstances. Plus, we offer tools that help homebuyers prepare for the application process. Check out our home loan calculator with no strings attached. 

Fee Waiver Benefit Conclusion

A mortgage fee waiver benefit equals savings. Homebuyers who apply for financing face a series of fees imposed by lenders. Plus, they spend money to move. Mortgage House works with homebuyers in varying financial circumstances. Our loan specialists help applicants find the best product for their purchase and goals.

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