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Don't Get Caught Paying an Upfront Deposit or Application Fee!

Some of the big, and small, banks, lenders, and brokers, have their clients pay an upfront out-of-pocket deposit they like to call a 'Processing Fee', 'Application Fee' or 'Administration Fee'. This deposit can range from $300.00 up to $1,500.00.

What happens is if your loan is not approved, or terms change early in the processing of your loan? Good luck getting all your money back. Banks, lenders and brokers that charge this upfront deposit will pass through all their processing time costs and credit costs to you. Some of these 'processing, administering or applications' costs associated with the loan will take up all of your deposit and very little will be left over, if any, to be refunded back to you. This pushes all the risks and costs of processing the loan onto you. Most of the time you are requested to make the deposit before you are even approved and your loan isn't even locked.

Once you are approved and have agreed upon terms it is sometimes appropriate to pay for 3rd party costs like an appraisal fee or an inspection fee if required. A lock-in fee agreement is another way you can guarantee yourself a rate through a specific period of time.

Why Choose RANLife as your Lender?

• We have an A+ rating according to the Better Business Bureau.
• We are quick, easy and worry free.
• RANLife is a Direct Lender which allows us to close your loan faster than most banks and brokers.
• In 2010 RANLife Closed home loans 3 times faster than the national average.
• Hear what our customers are saying "Have already referred RANLife to a friend. The service was excellent and closing completed faster than expected."
• RANLife has licensed and trained home purchase specialists that can walk you through the home buying process.