When you obtain a loan for a property purchase, you will incur a variety of charges associated with the mortgage. These are often referred to as closing costs, but there are actually different types of fees that fall into that classification. This article covers an explanation of lender closing fees in Waltham MA.
Lender Closing Fees
Discount fees are a way for borrowers to obtain a lower mortgage rate. It involves paying up-front interest to ensure lower monthly payments for the life of the mortgage. This option may be useful for homeowners who need a lower payment in order to qualify.
Origination fees are specific to a lender. It typically covers the lender processing of the mortgage Lender Closing Fees
The lender closing fees discussed above are only a few of the actual fees that may be imposed by your mortgage company. For a comprehensive list of potential fees that you may incur, or for assistance with other real estate or mortgage matters, contact Darleen Foster by calling 617-448-7894 or emailing DarleenFoster@remax.net and/or Bradford Pratt at 781-316-5760 or send an email to BradfordPratt@remax.net