Impact Fees at Mortgage Glossary
What is it? Fees collected from developers of new homes to pay for schools, parks and other facilities.Mortgage Dictionary Term Added By: Keira
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Other Similar Mortgage Terms:
Mortgage Term Application Fee is Fees that are paid upon application. An application fee may frequently include charges for property appraisal ($200-$400) and a credit report ($30-50).Mortgage Term Step-rate mortgage is A loan that allows a gradual increase in the interest rate during the first few years of the loan.
Mortgage Term Subsequent Rate Adjustment -- Maximum rate decrease: is In association with an Adjustable Rate Mortgage loan, this is the most the interest rate can decrease when it is scheduled for reevaluation and possible adjustment.
Mortgage Term Lender Fees is Lender Fees are fees paid to the lender.
Mortgage Term Note Rate is The interest rate on the mortgage loan.