An upfront charge by a lender, usually 1–3% of the loan amount, for processing a new loan application. Often folded into the loan balance, which means you pay interest on the fee itself. Always factor it into your APR comparison.
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An upfront charge by a lender, usually 1–3% of the loan amount, for processing a new loan application. Often folded into the loan balance, which means you pay interest on the fee itself. Always factor it into your APR comparison.