A new mortgage loan application is accompanied by an initial processing expense known as an origination fee. Considered a fee for activation of a mortgage loan, lenders consider this to be commission-based compensation. A percentage of the mortgage loan amount usually expresses such an expense. Throughout the United States, while the rates can be as great as 5%, the general range for these fees fall between 0.5% and 1% on mortgage loans. An origination fee should be added to points, which are … [Read more...]
Why Are The Banks Unwilling To Offer Me A Mortgage?
Many people are starting to ask why they are unable to obtain a mortgage; it is not just those who have an adverse credit history who are being affected. What are the reasons behind the financial institutions' reluctance to lend money? Now I am not a mortgage adviser I actually help people to increase confidence and I also help businesses with cost reduction as well as working on a project about training for foster carers. Going back to the previous question; well it is all down to the now … [Read more...]