Understanding Lender Fees

Description

This training equips real estate professionals with the skills to accurately read and interpret any finance fee sheet a client provides. It begins by clarifying the difference between pre-qualification and pre-approval. The session covers how loan originators are paid and explains the legal boundaries set by RESPA. Participants will learn how to break down and compare key loan terms such as interest rate, APR, loan-to-value ratio, using real-world examples to evaluate total loan costs. Finally, the training explains various fee types—including lender fees, third-party costs, title company fees, and state taxes—and teaches why agents should focus on APR and principal/interest rather than the estimated monthly payment. 

1 CE Credit