What does it cost to submit a loan application?
The actual cost of your credit report ($15.69 – $25.00) plus a service fee of $25.00. You can submit your application and become pre-approved for a loan with only the small investment of a credit report – some lenders do not charge this fee up front. However, due to privacy laws, paying for the credit report up front helps protect you even further. Also, most lenders charge more than just the cost of the report when it is placed on the settlement statement. Later on, fees may be incurred for a property appraisal and eventually closing costs.
