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, loan fees, surcharge

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.
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