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Generally, the impact fee is not something that the consumer directly pays for. Rather, the developer of the new community/housing is charged an impact fee to help cover the costs associated with adding the infrastructure necessary to support population growth.
A developer may only pass on an impact fee if that line item is specifically identified in the contract that you signed when you put escrow money down on the home. If that item is not defined, you tell the developer that you will not pay it.
Now, if the impact fee was buried in the price of the home, then, yes, you may finance that fee as the fee makes up part of the value of the home. If the impact fee was left as a basic line item, some banks will not let you directly finance that fee.
IF you are a developer, then yes, your commercial lender should allow you to finance a portion (but not likely all) of that fee.
What else can I help you with?
What is an origination fee?
An origination fee is a payment associated with the establishment of a new loan. This fee is paid to the bank (or perhaps the broker) that provides the loan or services associated with taking out a loan.
What is the meaning of a loan origination fee?
A loan origination fee is a term that describes a fee charged by the lender to pay for the costs of evaluating, preparing and submitting the proposed mortgage loan.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
Do legitimate loan companies charge a fee for a loan?
No, they do not. Such that do are refered to as "advance fee" scams. Best avoided.
Does trading in a financed car negatively impact your credit score?
Yes, trading in a financed car can potentially impact your credit score negatively if you have outstanding debt on the car loan that is not fully paid off during the trade-in process. This can affect your credit score by increasing your overall debt-to-income ratio and potentially lowering your credit score.
Average amount financed for new car?
What is the average amount financed in an auto loan
Can you get a title loan on a financed car?
Legally, NO !!! can you, sure!! LOL
What is an origination fee?
An origination fee is a payment associated with the establishment of a new loan. This fee is paid to the bank (or perhaps the broker) that provides the loan or services associated with taking out a loan.
What is the meaning of a loan origination fee?
A loan origination fee is a term that describes a fee charged by the lender to pay for the costs of evaluating, preparing and submitting the proposed mortgage loan.
What is originating fee?
An origination fee is a payment associated with the establishment of a new loan. This fee is paid to the bank (or perhaps the broker) that provides the loan or services associated with taking out a loan.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
What is the typical percentage fee on a factoring loan?
Thge typical fee on a factoring loan is 10%. This fee can vary depending on the servicing company.
Do legitimate loan companies charge a fee for a loan?
No, they do not. Such that do are refered to as "advance fee" scams. Best avoided.
Does trading in a financed car negatively impact your credit score?
Yes, trading in a financed car can potentially impact your credit score negatively if you have outstanding debt on the car loan that is not fully paid off during the trade-in process. This can affect your credit score by increasing your overall debt-to-income ratio and potentially lowering your credit score.
What is the purpose of a lien when you get a secured loan?
To let lenders take back property they financed if you don't repay your loan
What is the start date to calculate the commitment fee?
The start date to calculate the commitment fee depends on the loan. Often the commitment fee starts as soon as the loan is processed and the borrower has signed on the loan.
Who does one talk to to refinance a loan?
If you want to refinance a loan, discuss it over with the company/people who you had a loan with in the beginning. Whoever you financed a loan with first, refinance with them again.
