What fee is charged by a lender for holding credit available for a borrower, often associated with a construction loan?

1) take out commitment fee
2) loan origination fee
3) discount point
4) buydown

The correct answer is the option 2: Loan Origination Fee.

Explanation:

To begin with, a Loan Origination Fee is the name given in the U.S to an upfront fee, that is being charged by a lender who will process a new loan application and the main purpose of the fee is to compensate the time that is being used for putting the loan in place. Moreover, this type of fees are quoted as a percentage of the total loan. Furthermore, this type of loan is usually associated with a construction loan due to the fact that it will be good for the borrower only is the person plans to sell or refinance within a few years.

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