What is an origination fee?

An origination fee is a cost for us to provide you with a loan. It will range from 0-4.99% of your initial draw amount, depending on your credit profile and the state where the property is located. The fee is amortized (included) in the loan payment schedule and is deducted from the original loan amount. Some members will have the opportunity to choose their origination fee and may be able to reduce their fixed APR (Annual Percentage Rate), and monthly payment offers by choosing a higher origination fee. However, other members will not be eligible to choose their origination fee due to fee caps imposed by state law. If you live in a state with a capped origination fee, you will be responsible for the fee up to the amount allowed by state law.