What are the lender fees?
You will generally have to pay 4-10 points. One point equals 1% of the loan amount. Some or all of these points may have to be payed up-front, but many lenders will build the points into the back of the loan (the lender will increase the loan amount to cover the points). You will also certainly have to pay for an appraisal of the property, some document preparation fees, and perhaps some underwriting and/or application fees. Each lender is different and, when you apply for the loan, these fees are disclosed to you as required under State or Federal law.
