Items payable In Connection with Loan

These items are the 800 series of the Good Faith Estimate:

801 Loan Origination Fee – Expressed in points of the loan amount, this fee is paid for originating the loan

802 Loan Discount – Expressed in points of the loan amount, this fee may be paid to the investor.  Used to buy down a lower interest rate or as an adjustment for lower loan amounts.

803 Appraisal Fee – This fee is paid to a Residential Appraiser who determines the value of the property you are buying or refinancing.

804 Credit Report – This fee is paid to a credit agency for providing credit report on the borrower(s)

805 Lender’s Inspection Fee – Usually this fee only applies to new construction (home being built).  It may also be charged if the appraisal report requires repairs to an existing home.

808 Mortgage broker Fee – Additional fees paid to a broker for services on the loan.

809 Tax Related Service Fee – This is an investor fee usually paid to a third party company that monitors the payment of taxes on the property.

810 Processing Fee – Paid for preparing the loan file for underwriting.

811 Underwriting Fee – This is an investor fee for underwriting (determining the approval) of the loan.

812 Wire Transfer – Charge for wiring funds.

Other:  May be other items associated with the loan that need to be charged.