Origination fees fees charged by the lender to "originate" or write up the mortgage loan, and are very similar to points.
Not Required (Do Not Enter in Commas)
Min: 0
Max: 10
Decimals: 2
Remarks
Like points, origination fees are figured as a % of the loan, but oddly
enough, are figured in points. Recall a point is 1% of the mortgage
loan, so a $100,000 mortgage loan, that has origination fees equaling 1 point,
would cost you $1,000. Now you can see why these terms are used interchangeably.
The bottom line: Origination fees are a cost to you. You do not want to pay Origination Fees or Points unless market conditions leave no alternative. Shop around and find the best deal possible.
Example
If you discover origination fees of 1 point , enter: 1.00
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