What are loan fees?
A. Most lenders charge origination/default fees on their loans. The fees will be deducted from the loan amount before the money is sent to St. Olaf to be disbursed on the students account. Fees are between 0-4%. Please check the disclosure statements from your lender to determine the fee that may have been charged on your loan.
Loan fees are fees paid in conjunction with closing a mortgage loan. Instead of charging borrowers for every small fee associated with the loan, we charge a flat Guaranteed Loan Fee. We can convert the Guaranteed Loan fee into points if that makes a difference to you. There are other fees paid to third parties such as Appraisal, Escrow and Title Insurance. Click here to receive a Good Faith Estimate of Closing Costs.
< Back to Top > Loan fees are fees paid in conjunction with closing a mortgage loan. Integrity Funding, Inc. uses a different pricing model than traditional mortgage companies. Most companies work on a percentage profit built into the rate and points (normally 1% or so). We operate to a greater extent on a fixed dollar profit, built into the fees. If you compare total dollar cost (points and fees) for the same interest rate, we will normally have a lower total cost associated with our loan. We can convert most fees into points if that makes a difference to you. Instead of charging borrowers for every small fee associated with the loan, Integrity Funding, Inc. collects the following fees: Processing Fee – Covers costs associated with processing the loan. Underwriting Fee – Covers costs associated with underwriting the loan. Document Preparation Fee – Covers costs associated with preparing the loan documents. Funding Fee – Covers costs associated with funding and closing the loan. Admini
