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What are the most points and fees that can be charged?

April 26, 2017charged fees Points

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What are the most points and fees that can be charged?

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The ACT does not limit the points and fees that can be charged. State mortgage brokerage laws determine the limitation. For example in Florida, Florida Statutes 494.042 provides the maximum brokerage fee that can be charged by a mortgage broker. On a mortgage loan exceeding $5,000, the maximum fee is $250 plus 10% of the entire mortgage loan. The entire mortgage loan is the total amount loaned less the brokerage fee.