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.
Interest rates on chattel loans range from 7 percent to 12.75 percent, says Ken Rishel, founder of Rishel Consulting Group in Chicago. The loans are usually for 15 or 20 years. In contrast, the average rate for a 30-year fixed-rate loan has been well below 5 percent for all of 2014. Rishel, whose company makes chattel loans of at least $5,000, says the interest rates are risk-based, and chattel loans are often the only choice for borrowers with poor credit. Chattel loans are the main option for owners whose mobile homes are not permanent foundations.