Like a bank, SLF has certain costs that must be passed on to its loan clients.
Closing costs vary depending on the nature and complexity of the loan. Documentation and processing fees range from 1% to 2%, depending on which loan product is accessed.
Typically, the most common costs are the credit report and State of Maine UCC fees. Other charges may include annual service fees, mortgage-filing fees, title insurance, attorney costs, etc. All costs are the responsibility of the borrower and are due at the loan closing unless other arrangements have been made in advance.
Posted in: Loan