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What is origination charge?

The origination charge is the amount for services performed on the initial loan application and loan processing. This includes all charges for services and payments (other than discount points) that lenders and brokers provide for origination.

The amount you will need to close your loan includes your down payment, closing cost, and prepaid amounts for property taxes, and insurance escrow accounts. We will provide you with a good faith estimate (GFE) of settlement costs when your loan application is accepted. Within 24 hours of your closing, the closing agent will provide you with the final amount that you will need to close.

 

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