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What costs are associated with getting a mortgage? |
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There are three different types of costs associated with getting a mortgage. The origination fee represents a fee paid to the broker or bank for services performed. The discount points represent the prepayment of interest. It’s used to buy down your rate. And non-recurring closing costs represent costs paid to the bank, broker and/or third parties to cover the costs of getting your loan approved. However, when you work with America's Mortgage Store, you usually won’t pay closing costs.
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