What is the origination fee?

The origination fee covers all the costs to create, manage, and service your Payoff Loan.

We have tried to make it as simple and straightforward as possible, by eliminating other commonly seen charges like application fees, prepayment penalties, late fees, and annual fees.

Instead, you will pay a very small percentage of the total loan amount you are requesting (0-5% depending on the term you choose) and it is simply deducted from your loan amount in the very beginning.

You can read more details about how our origination fee works here: https://www.payoff.com/loan/rates-and-fees

Have more questions? Submit a request