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Hidden Income

Another form of what I call “hidden income” is the SRP or “Service Release Premium.” An SRP is paid to the lender in government loans, such as FHA or VA. The amount of the SRP varies, depending upon what type of loan it is and the loan amount. An SRP can range anywhere from .75% to 1.25% of the loan amount, with the average being 1%.

And what about that “Loan Origination Fee” you’re usually charged? This fee is just another way to make money on the loan. A origination fee is usually 1% of the loan amount.