What are the fees associated with a mortgage?

In Washington, there are a variety of fees that can be associated with obtaining a mortgage. The most common fees are those associated with an origination fee, closing costs, and points. An origination fee is charged by the lender and is generally a percentage of the total loan amount. In Washington, this fee usually ranges from 1-3% of the loan amount. Closing costs are a variety of fees that are associated with the closing of the loan. These fees include things such as appraisal fees, title insurance, home inspections, and other fees that are associated with the closing process. In Washington, these fees are usually a percentage of the loan amount, ranging from 1-3%. Finally, points are fees that are paid to the lender in exchange for a lower interest rate on the mortgage. Generally, one point is equal to 1% of the loan amount, and the borrower can choose to pay 1-3 points in order to lower their interest rate. In summary, mortgage fees in Washington typically include an origination fee, closing costs, and points. These fees can range from 1-3% of the loan amount depending on the fees and the loan amount. Borrowers should also keep in mind that points can be paid in order to obtain a lower interest rate on the mortgage.

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