It has been accepted for inclusion in Faculty Publications, Department of Child, Youth, and Family Studies by an authorized. administrator of DigitalCommons@University of Nebraska - Lincoln. Miller, Richard B. and Hollist, Cody S., Attrition Bias (2007).Faculty Publications, Department of Child, Youth, and Family Studies.
The average loan origination fee will be 0.5 to 2% of the loan amount, if expressed in points. It is charged by mortgage brokers for processing and closing your mortgage. Sometimes title fees, escrow, appraisal and other fees will be zeroed, but the loan origination fee will be inflated and high above the average. If that is the case, your loan origination fee will not be tax deductible.
If you estimate that in 2017, the mortgage rates trend creeps up to 5 percent, it would cost $1,208 per month or $2,268 per year more than if rates remained at the 2016 level of 3.57 percent. Multiply that $2,268 over 30 years and the higher interest rate could cost you an additional $68,040 over the life of the loan.