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Related Definitions

Loan Application Fee

Updated on August 21, 2024

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.

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