Guaranteed Lender Fee

Hi Guest,

The lenders will charge a lender's fee when you apply for a mortgage, However, the fees may vary from one lender to another. The borrowers will be liable for paying this fee.

Thanks

I don't know what a "Guaranteed Lender Fee" is, but $1995 sure seems like an exorbitant amount to be paid out to a lender prior to the approval of a loan. Of course, you're going to pay for an appraisal upfront and there might be a lock-in fee if that's appropriate, but the only other thing they might generally collect is a credit report fee, which is minimal.

What the fee represents is a lot more telling than simply naming it a "Guaranteed Lender Fee." Do we have any more information?