Mortgage arrangement fee, also known as a completion fee or a mortgage product fee, is a term used to describe the fee charged by some lenders to cover administration and primarily the reserving of funds for fixed rate and/or discounted rate

mortgage A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...

s. This fee may be paid separately, added to the mortgage loan increasing its size, or deducted from the value of

loan In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that d ...

that the

lender A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property ...

is prepared to advance. The fee is usually between 0.5 and 1% of the loaned amount.

References

Mortgage {{realestate-stub