Is the appraisal fee required to be paid up front when applying for a mortgage?

It depends on the lender and the specific terms of your mortgage application. Some lenders may require you to pay the appraisal fee upfront, while others may allow you to roll it into your closing costs or include it in your mortgage payments.

Most Conventional, FHA, VA and USDA applications require the appraisal fee to be paid upfront. Home Equity applications can have the appraisal fee rolled into the closing costs.

An appraisal is typically required by lenders to determine the value of the property you're seeking to buy. The appraisal fee is the cost of the appraiser's services and can range from a few hundred to a few thousand dollars, depending on the size and complexity of the property.

It's important to carefully review the terms of your mortgage application and ask your lender about any fees or costs associated with the process. That way, you can plan accordingly and ensure that you have the necessary funds to cover all expenses.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.