Pre Qualification - Cost $75 (credited back at closing)
Determines the amount of loan you can qualify for with a lender and gives the ball park interest rate. Your credit is pulled. Ball park good faith estimate provided. When your loan goes to closing, this fee is credited to borrower. The fee is non refundable if the loan does not close.
Loan Application - Cost $250 (credited back at closing)
Complete loan application received. Disclosures signed. Detailed options provided. Detailed good faith estimate provided. Income, Bank and other documents received and submitted to the lender. When your loan goes to closing, this fee is credited to borrower. The fee is non refundable if the loan does not close.
Appraisal -Cost $300 - $450 non refundable when the appraisal has started the appraisal.
This pays for an appraiser’s expert opinion of the value of a property. (note that some hard or far away appraisals have higher fees)
The appraisal check and loan application check are usually combined together.
Consultation - Cost $200 - $500
Sometimes we know the best source of money but we do not do a certain type of loan. Or sometimes I know where or how to accomplish what you need that is better than loan products that lenders will provide brokers. It has taken me years to obtain this understanding and information.