Loan Application Fee
Updated on 2023-08-29T11:59:17.426927Z
It is defined as the fee that may be charged to a potential debtor for getting a loan. For all category of loans, the loan application fee is necessary and is meant to pay for the prices of the loan approval process.
Loan application fees present a high-level threat for low-credit-quality borrowers, since most of these fees are non-refundable.