What is the origin?
Definition of origin is that something arises or arises. This is most commonly used in finance in connection with loans. If the person first takes a loan when papers are developed and the money is actually borrowed, it refers to it as origin.
This term is most often used with mortgages, although it can be used with any type of loan. The origin is rarely used to describe the opening of a credit card, but instead deals primarily open or issuing a bank. It is generally considered to be signed at a time when the loan documents are signed. Fees
are common when the loan comes. These are often referred to as points of origin and are based either on the cost of flat fees assessed by a creditor or a fixed rate. Such points differ from discount points, which are points that the buyer pays for the reduction of the interest rate on his mortgage. Discount points are tax deductible and Ao RE often optional, while points or fees paid for the loan are not optional.
The bank or creditor must declare whether there are any cost of origin at the time of the loan. The application for the application is often considered to be such a cost, because it is necessary to make a loan. The purpose of fees or points paid, if a loan comes, is to compensate the creditor for the process of subscribing the loan.
When buying a loan, many buyers are looking for a loan that has no cost of origin. This does not mean that the loan will not be costs: other fees such as the title insurance can still be charged. It simply means that no fee is charged only for the purpose of creating or opening a loan.
If fees are charged, the total loan costs must be taken into account. When there is a comparison of interest rates between multiple loans, the difference in the cost or loan may be considered for determining the actual loan costs. If the debtor finds another bank that is willing to offert comparable conditions without the cost of origin, the debtor usually decides for a bank with a smaller fee or may try to negotiate a reduction in the fee with its original creditor.