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LSDefine

Simple English definitions for legal terms

loan-brokerage fee

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A quick definition of loan-brokerage fee:

A loan-brokerage fee, also known as a mortgage discount or point, is an upfront charge by a lender at a real estate closing for the costs of financing. It is the difference between the mortgage principal and the amount the mortgage actually sells for. Usually, the buyer pays this fee, but sometimes the seller pays it when required by law, such as with a VA mortgage.

A more thorough explanation:

A loan-brokerage fee, also known as a mortgage discount or point, is an upfront charge by a lender at a real estate closing for the costs of financing. It is the difference between the mortgage principal and the amount the mortgage actually sells for.

For example, if a borrower takes out a $200,000 mortgage with a 1% loan-brokerage fee, they will have to pay an additional $2,000 at closing. This fee is usually paid by the buyer, but in some cases, it may be paid by the seller.

The loan-brokerage fee is used to cover the costs of originating the loan, such as processing and underwriting fees. It is important to understand this fee when shopping for a mortgage, as it can significantly impact the overall cost of the loan.

loan association | loan certificate

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glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
concorde
14:22
pwned
14:22
Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
14:33
@WorthlessAttractiveZombie: 4
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