An administrative fee charged by some lenders to offset the cost of processing a loan request. Typically, the application fee will cover expenses that must be incurred prior to the loan closing, such as an appraisal and credit report.
An administrative fee charged by some lenders to offset the cost of processing a loan request. Typically, the application fee will cover expenses that must be incurred prior to the loan closing, such as an appraisal and credit report.
