Do I have to pay a mortgage application fee?


Mortgage application fees are usually paid upfront to the mortgage company at the time of submitting your application. This is the way to distinguish serious buyers from the pool of applicants and reduce application processing time. There is certain analysis and respectively labor involved in processing your data, selecting the most appropriate loan programs for you and matching you up with the appropriate lender.

However, there are many businesses out there trying to earn you as a client and while some will charge you an application fee, many others both online and in the community will not. In the most you should be asked to reimburse the credit report they will run on your behalf. This should cost you no more than 40$. Fees exceeding at large this amount signify the company is profiting from you at an early stage and you may better switch to another loan provider.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.9/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: