8 Tips On Real Estate Closing Costs


Tip #3 – Why Do Lenders Charge Fees?

8 Tips On Real Estate Closing Costs

  • www.zillow.com

There are expenses with finding a mortgage and funding the work it takes to process a request, which is why lenders charge fees. Also, there may be no profit until after the new loan is a year old because of the initial costs to them. Of course the lender is getting the interest payments, but there are salaries to be paid as well as rent, taxes and standard business costs.

Lenders may try to offset these costs with the additional fees and you’re only able to save on those fees that are negotiable. There are some that are nonnegotiable because of company policy and others that are set by various levels of government so they are “required” as opposed to “non-required” fees.

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