Finance
What is 'loan origination fee' in an Idaho mortgage?
AThe first month's mortgage payment
BA fee charged by the lender for processing and originating the loan, typically expressed as a percentage of the loan amount✓ Correct
CThe title company's fee for preparing the deed
DThe real estate agent's processing fee
Explanation
A loan origination fee is charged by lenders to cover the cost of processing a mortgage application. It is typically 0.5-1% of the loan amount and is included in the Loan Estimate and Closing Disclosure.
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