commitment fee

« Back to Glossary Index
Tags: banking, loans

Commitment fees are small charges that are imposed by a lender at the time that a mortgage or other type of loan is extended to an applicant. The fee serves as a sign that the lender is pledging resources to enter into the business arrangement with the borrower. Depending on the current standards and circumstances that apply, the exact amount charged will vary.
(source: http://www.wisegeek.com/what-is-a-commitment-fee.htm)

Synonyms:
initial charge
« Back to Glossary Index
Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *